Strong Customer Authentication Solutions

  With the biometric digital signature technology slowly but surely gaining popularity, you may be wondering whether to use it in your business. These signatures holds maximum authenticity as compared to the other types of signatures because the wet signatures can be imitated easily but biometric signature verification becomes superior and leaves no room for imitation. So, what exactly is a biometric digital signature? Biometric signature simply refers to analyzing and recording people’s physical characteristics. These characteristics are encrypted, stored securely and then embedded in the signed document. The biometric data is unique to every individual and therefore is used for identifying an individual and link a particular document or data to him. Biometric digital signatures verify the unique pattern of bodily features, like the retina, fingerprint, iris, or voice, embedded to identity and helps in using it for recognition as well as verification purposes. These signatures ar...

  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. Fo...

  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 capabilit...

  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...

  Strong Customer Authentication (SCA) is a core regulation that payment services need to abide by under the new European Revised Payment Service Directive, PSD2.  With the rise of open banking and online payments, governments implemented this technology to reduce fraud, to help secure the transaction of digital payments, and also to protect consumers across digital channels. SCA requires customers to verify their identity before payment transfers can occur online, whether with an institution, financial service, or third-party business. Authentication offers an extra layer of security for customers as well as payment service providers. Since PSD2 simplified payments systems along electronic channels, it opened up banking platforms into a single market. As a way of combating the potential fraud that is found with online services, Strong Customer Authentication forces banks to uphold a standard of security by verifying users before any payments are authorized. SCA requires that...

  Strong Customer Authentication is among the core regulations that payment services need to abide by under the new European Revised Payment Service Directive, PSD2.  The rise of open banking and online payments has seen governments implement SCA to reduce fraud, to help secure the transaction of digital payments, and also to protect consumers across digital channels. SCA requires customers to verify their identity before payment transfers can occur online, whether with a financial service, institution, or third-party business. Authentication is important because it provides an extra layer of security for customers as well as payment service providers alike. Since PSD2 simplified payments systems along electronic channels, it opened up banking platforms into a single market. In order to combat the potential fraud found with online services, Strong Customer Authentication forces banks to uphold a standard of security by verifying users before any payments are authorized. Ther...

  When it comes to improving the security of your business, one of the things that you should consider is strong customer authentication (SCA). Not only is strong authentication a compliance exercise, but it is also something that can be a driver for innovation. Authentication is simply the process of proving who an individual is and confirming their intention to perform an action, like allowing access to account information or making a payment transfer electronically. Strong customer authentication is a regulatory requirement that is based on the use of two or more of the following elements: knowledge (something only the user knows, like a password), possession (something only the user possesses, like a mobile phone or a code generating device), and inherence (something the user is, like their facial or fingerprint biometric data). Strong customer authentication requires two factor authentication as well as dynamic linking (meaning a clear and unforgeable message to the consumer)...

  When it comes to the technologies that you can use to improve the security of your business, Strong Customer Authentication (SCA) is one of the things you should consider. This technology offers some fundamental business benefits, and with the right mindset, it can strengthen your business through the following. One of the ways that Strong Customer Authentication can strengthen your business is through innovation and customer acquisition. With a simple SCA process, you can take the customer from mere interest in your service or products to settling a payment in only a few minutes. SCA will make using new services a lot easier, such as top-up and pre-paid credit cards, spending analytics, self-service management of geographical limits and merchant or transaction specific credit cards, special offers, and more. All these services require SCA to be set-up and used. However, with a poor and cumbersome SCA, such as SMS+OTP + password, the use of new and innovative services will be mu...

  If you are a business persona and have not yet implemented passwordless authentication ux , it is something that you should definitely think about. Passwordless authentication is simply a process that verifies a user’s identity with something other than a password. With this technique, you can strengthen security of your company systems by eliminating password management practices as well as the risk of threat vectors. One of the good reasons to implement passwordless authentication ux in your business is that it leads to stronger cybersecurity posture.  Research shows that enterprises experience losses of up to $3.92m on average from data breaches. When cyber-criminals can gain access to your passwords, it means that they can also gain access to your company’s confidential data. The cybercrimimals can even get into other employees’ data and alter it too. However, you do not have to worry about data or identity theft with passwordless authentication because the hardware toke...

  With passwordless authentication UX gaining popularity these days, you may be wondering if it is something that you can implement in your business. The traditional authentication technique with username and password has been the basis of security for over the past fifty years. But, in light of today’s information technology landscape, threats and usage patterns, it is time to retire the password. The following are some of benefits of passwordless authentication. One of the advantages of using passwordless authentication UX is that it provides effective protection against phishing and password lists. The aim of phishing is to trick the victim into giving away sensitive information, which is often the combination of username and password. The attacker can also use password lists that are for sale at a low cost from previously compromised services and bet that the employee uses the same password on multiple services. Phishing attacks are in most cases beyond the control of the inf...

  A great number of customers who have victims of fraud were not aware of it until it was too late. Card details can be easily compromised. Haven’t we all willingly given our card numbers over the phone to order a takeaway or entered them into an unknown site when registering for the first time? A rapid rise in online fraud together with a demand for better online security from consumers as well as retailers alike has finally led to the introduction of strong customer authentication (SCA). Strong customer authentication is the process of ensuring that the person who is making a purchase online is, in fact, the real cardholder. Even though there are many online payment risks, the good news is that there are ways to decrease your chances of being a victim. Before a transaction is approved, the customer needs to prove that they are the cardholder by the use of two or more elements that are categorized as knowledge (something only the user knows or password), possession (something onl...

  A lot of business people nowadays have started to rethink the user experience around how their employees authenticate. Smartphone and mobile apps have made accessing information easier, faster, and more convenient in our personal lives, but completing this task in our professional lives still remains a challenge. Think about how you access your mobile phone. Chances are you touch a fingerprint sensor to unlock your phone, or maybe you use facial recognition. What you are doing here is essentially performing two-factor authentication (a mobile device counts as possession and your biometrics counts as inherence) and quickly unlocking your phone without typing in a code or password. Now, think about how you access work applications. Chances are the authentication process is not as effortless or fast. You probably need to enter a password filled with special characters, upper case letters and numbers in order to access an application. If your company requires 2FA, you probably also h...