Strong Customer Authentication Solutions

  If you are considering making the switch from traditional passwords to FIDO2 passwordless authentication , you can be sure that you are making a step in the right direction. FIDO2 is an open authentication standard that is hosted by the FIDO Alliance and consists of the W3C Web Authentication specification (WebAuthn API), and the Client to Authentication Protocol (CTAP). It is an extension of FIDO U2F, and offers the same level of high-security based on public key cryptography. FIDO2 offers expanded authentication option, which include strong single factor (passwordless), strong two factor, and multi-factor authentication. With these new capabilities, the weak static username/password credentials can be replaced with strong hardware-backed public/private-key credentials. These credentials cannot be reused, replayed, or shared across services, and they are not subject to phishing and man in the middle attacks or server breaches. There are various advantages of using FIDO2 password...

  Implementing digital signature API in your business can benefit you in many different ways. Also known as eSignatures, digital signatures have become popular and various industries are taking advantage of this technology to enhance their business processes. When you embrace digital signature technology in your business, it can help you optimize your workflow and management processes. A digital signature API will enable you to collect signatures for agreements, deals, as well as contracts or legal documents directly on your website or product. You can integrate a secure, trusted eSignature API so as to sign documents, request eSignatures, automate the forms and data, and also speed up the signing process. With this technology, it is also possible to perform multi-factor authentication, and also download the sealed documents while also tracking the status of the docs in real-time, right from a website or your app. So, why exactly do you need to implement digital signature API in y...

  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...

  If you are a business owner are looking for ways to make sure that your systems are not compromised, you should consider passwordless authentication . Trying to replicate possessive or biometric factors is a lot harder compared to guessing passwords that people use over and over. And with no credentials to steal, cyberattackers have a much more difficult hill to climb. While so many people use passwords for securing their systems, the problem with them is that they can be easily hacked. You are probably wondering why every company has not yet embraced passwordless authentication with open arms with so much risk inherent in traditional passwords. Well, saying you want to implement passwordless authentication in your business and doing it are two very different things. Below, we look at some of the challenges of passwordless authentication. Besides the cost, there are some security measures that not even passwordless authentication can counteract, not to mention the fact that stake...

  Are you looking for a good fraud prevention solution to use in your company? In the fight against cyber-crime, selecting the right fraud prevention tool is very essential. Whether you are actively seeking a fraud and risk management solution or you are investigating the other options that are currently available, the following are some tips to help you find the best supplier. First of all, you will need to re-evaluate your existing rules.  There should be rules to setup in real-time and offer complete flexibility. Testing different combinations of rules is very important for analyzing and managing specific areas of risk. With the right system, you can test rules in advance and auto-create lists of known bad trends, which can then be acted upon by your system in the future. This can save you time and money across millions of transactions. It would be good to take the time to review your current provider’s offering, and ask how many rules can be setup in your system. On avera...

  If you are a business owner, you should consider investing in digital fraud prevention systems to make sure that your data and systems are secure. Artificial intelligence plays a crucial role in successful payments and fraud prevention strategies. Fraud threats are evolving and presenting themselves in unexpected ways especially to the businesses that accept digital payments. You need an advanced solution in order to stay ahead of fraud and reduce revenue losses to fraudulent transactions while maintaining a smooth customer experience in your business. If you make digital sales in your business, you are more vulnerable to fraud that impacts your payments ecosystems. Fraud is has more complex these days and relies on machine learning to execute fraudulent activities and bypass security solutions. The outdated fraud detection systems that only employ rules-based detection as well as basic supervised machine learning are not advanced enough to meet current fraud attempts, and that ...

  When it comes to the things to that you can do in order to make sure that your business or company is secure, one of the things that you should definitely consider is Strong Customer Authentication (SCA). Contrary to what some people think, strong authentication is not simply a compliance exercise, but it can also be a driver for innovation. Authentication refers to the process of proving who a person is and confirming their intention to perform an action, such as allowing access to account information or making a payment transfer electronically. So, exactly what constitutes SCA and why it is so hard to deliver? This authentication technique requires two factor authentication as well as dynamic linking to ensure the consumer is fully informed and makes an active decision to authorize a payment transaction. In other words, to successfully process a payment under the new rules, banks and financial service firms needs to ask customers for at least two authentication factors. For ex...

  Investing in fraud prevention is a necessary step if you are a business person. No matter what type business you do or the industry that you are in, you are not entirely free from risk. Therefore, you need to have measures in place to safeguard your business against potential breaches. High volumes of fraud can be damaging to your business, resulting in both losses of revenue as well as reputation. When you partner with an experienced payment service provider (PSP), you will be actively working to prevent fraud, instead of taking a purely reactive approach. It is a good idea to deal with fraud before it happens, not after. When you follow this mentality, you can stop fraud in its tracks and not have to worry about conducting damage control further in future.  There are various tactics designed to detect and prevent fraud, including the daily monitoring of traffic from particular territories and checking declined transactions. As a business person, the most efficient way to ...