Strong Customer Authentication Solutions

  Strong customer authentication is one of the technologies that you should embrace in your business if you want to improve the security of your data and business systems. It confirms user identity reliably and safely, never solely based on shared secrets/symmetric keys like passwords, recovery questions and codes. Strong customer authentication assumes that credential phishing and impersonation attacks are inevitable and robustly repels them. Even though multi-factor authentication remains among the best ways to establish who trusted users are, actual strong authentication goes beyond either two-factor authentication or multifactor authentication. When you are implementing multifactor authentication, at a minimum, you follow the National Institute for Standards and Technology (NIST) Assurance Level-2 for admin functions. What this means is that you use two factors: something you know, like a code or password, and something you have, like a push notification or a one-time passcode gen

  KYC authentication has become a vital part of getting important services these days, like getting a gas or LPG line or even buying an insurance policy. The main aim of conducting KYC is to verify the identity of clients and examine the probabilities of any illegal wrongdoings. Another reason why almost all major companies and organizations are carrying out KYC is to ensure their distributors, consultants, and agents are bribery-free and are not involved in any unlawful activities. In simple terms, KYC can be understood as an algorithmic and automated verification method that can be leveraged by financial and non-banking financial institutions to accurately verify the identity of a customer. In full, KYC stands for Know Your Client and Know Your Customer, and today more than 80 countries across the world have standing instructions on how as well as why KYC procedures should be leveraged to verify the identity of a customer. The idea behind KYC as a computer driven technology is quite

  We live in an era where companies are seeing an increase in security breaches because of spammers and scammers. If you don’t do something to contain these breaches, they can result in a poor customer experience and lead to a decrease in customer retention, or worse, they could negatively affect your brand and cause legal and financial repercussions. In order to reduce the potential for compromised security, you can consistently using phone verification for verifying phone numbers at every stage of the customer lifecycle, including account creation, transaction authentication, as well as ongoing customer engagement activities. There are various user management best practices where mobile phone verification can increase security and boost customer acquisition and retention. One of them is authenticating registration. When a new user registers for your application, mobile identity verification can help authenticate identity, making sure that the new user is who they claim to be. For in

  FIDO Alliance is an open industry association that aims to set authentication standards to help reduce the world’s over-reliance on passwords. FIDO2 is a new standard from the FIDO alliance, which is simply an authentication method that is much safer compared to a password-based system. FIDO2 is also faster and more user friendly compared to the 2nd-factor authentication (2FA) including OTP (One-Time Passcode). Therefore, FIDO2 becomes the technology of choice for passwordless login systems, including hybrid cloud applications, like Microsoft Azure AD. FIDO2 certification programs are a very crucial element when it comes to ensuring an interoperable ecosystem of products and services that companies can leverage to deploy FIDO Authentication solutions all around the world. FIDO Alliance manages functional certification programs for its core specifications to validate product conformance and interoperability. Additionally, it has introduced programs to delineate security capabilities

  If you are a business person and have not yet connected to the eKYC portal , you should consider doing so. Financial firms are connecting to local e-KYC utilities. There are a wide range of benefits that financial institutions can realize by accessing an e-KYC utility. The following are some of the reasons why financial institutions are engaging with a local e-KYC utility. First of all, getting connected to your local eKYC portal will lead to significant operational efficiencies as well as cost savings. eKYC utilities can reduce costs by enabling banks to standardize and automate technology, processes, data as well as the organizational models. They can also harmonize organizations, rationalize systems and reduce duplication and inefficient processes. With the help of an e-KYC utility, financial service firms can expect to avoid repetitive onboarding processes and reviews, because the work has already been done by other service providers. The data is already stored centrally and secu

  You need to consider using digital signature API in your company if you deal with a large number of physical documents on a daily basis. The digital signatures will not only pave the way to a paperless future, but they will also make your workflow more efficient and increase productivity, and in doing so they will save you time and money. The following are some of the reasons why it is important to implement digital signatures in your business. When you use digital signature API, you can expect fast turnaround. With traditional signatures, employees have to do many steps to sign and return a document received via email. When you start using digital signatures, any type of documents and contracts can get signed with a click of a button. In the end, you can save time since these codes will replace the approval process on paper with a fully digital system which is faster and cheaper. Thanks to digital signature API, documents can be signed off almost instantly, from anywhere using a s

  Biometric identity verification for optimized and secure customer onboarding is trending across various industries all over the world. The deployment of quick and easy-to-use applications for identification, verification, as well as end-to-end digital onboarding, is consumers are expecting from service providers. The following are some of the industries that are the forefront of deploying advanced verification and onboarding technologies. The financial services industry is one of the industries that are benefitting a great deal from biometric identity verification. Banks and other businesses in the financial sector are supposed to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations for years. However, these processes have become synonymous with friction and frustration because institutions have had to increase onboarding security for compliance. Since customers are forced to supply an excess of paper documentation and personal information to open new acc