PYMNTS

DECEMBER 31, 2020

Security challenges are mounting, too. PIN-based debit transactions are some of the most secure, but this payment method is being used less and less, with consumers instead turning to eCommerce and in-person contactless payments during the pandemic. 3D Secure 2.0 3D Secure 2.0 The Face of Fraud.

Fraud 273

Fraud Strategy Security Cards 273

BankInovation

NOVEMBER 10, 2021

Eighty-four percent of 113 companies surveyed at the recent Money 20/20 conference say they expect their enterprise to increase investment in IT security over the next 12 months.

Survey 98

Survey Security Knowledge Base Conference 98

PYMNTS

JUNE 16, 2019

Postal Service, the Social Security Administration, Veterans Affairs, and the Centers for Medicare and Medicaid Services, for example, ask questions of a new user and match their answers to information held in an individual’s credit file. For instance, not all applicants have cell phones,” the watchdog explained.

Knowledge Base 108

Knowledge Base Online United States Fraud 108

PYMNTS

MARCH 27, 2020

First-party fraud seems difficult to perpetrate because loan applications typically require identity verification with Social Security numbers, which enable banks to track down loan applicants who go off the grid. The bad actors then cut off all contact with the bank, preventing it from recouping its losses.

Fraud 208

Fraud Technology Knowledge Base Study 208

PYMNTS

AUGUST 7, 2019

Data breaches’ stakes are sky high for corporations, meaning ID security is even more important to the United States federal government. Any lapse in governmental security could have much farther-reaching effects. Providing two of the three is typically sufficient to securely verify identities. .

Knowledge Base 118

Knowledge Base United States Security National 118

PYMNTS

OCTOBER 16, 2020

Going straight to the heart of the matter, PYMNTS’ October Digital Identity Tracker® , done in collaboration with Jumio , states that “consumers’ growing digital habits are prompting many digital identity solution providers to view verification as part of the consumer engagement process as well as a means to ensure security and privacy.”.

Security 189

Security Knowledge Base Customer Experience Retail 189

PYMNTS

NOVEMBER 1, 2017

The updated 3D Secure 2.0 In a recent digital discussion with Karen Webster, Michael Sass, VP Market Product Management, Security Solutions, Europe, Mastercard , and James Rendell, VP Product Management, Payment Security, CA Technologies , discussed the advantages as well as the obstacles that are still in the way. 3D Secure 2.0

Security 109

Security Payments CA Data 109

PYMNTS

APRIL 22, 2020

Banks must enable fast and seamless onboarding experiences, but these processes should also be secure. FIs do not really have the choice to make onboarding’s security procedures less stringent, however.

Security 133

Security Data Fraud Tools 133

PYMNTS

JULY 31, 2020

Gig platforms and marketplaces face their own challenges in attracting and keeping talent, however, especially since they cannot offer the security of a traditional staff position. Demand for flexible, reliable and prompt payment extends to knowledge-based professions as well.

Technology 142

Technology Security Knowledge Base Meeting 142

Perficient

NOVEMBER 19, 2020

Many banks continue to use knowledge-based authentication and out-of-wallet questions, which have challenges when customers have recently moved. What information is easily obtainable via social media, making it less useful for KYC and security purposes? Do you need to ask all the questions?

social media 309

social media Customer Experience Knowledge Base Mobile 309

PYMNTS

AUGUST 21, 2020

Jim Cunha, senior vice president, secure payments and fintech at the Federal Reserve Bank of Boston , told Karen Webster the joint efforts between the Fed and MIT are focused on exploring the infrastructure that would underpin a CBDC — and, at the same time, will probe various use cases. .”

Boston 269

Boston Massachusetts Knowledge Base Policies 269

PYMNTS

JULY 10, 2019

Despite the pervasiveness of digital identity in everyday life, concerns surrounding digital ID security continue to make headlines, with billions of dollars lost to fraud. Switzerland’s Jura Hospital is currently testing a 3D finger vein scanner to more effectively secure patient data. Find the feature story in the Tracker.

Apple 158

Apple social media Knowledge Base Mobile 158

PYMNTS

JANUARY 28, 2020

In the latest PYMNTS AML/KYC Tracker®, we learn that crypto is increasingly being defined as a security, not a currency – but either way, it’s getting a lot more scrutiny. Widely used rules-based anti-fraud measures are also not the safe bet they were just a few years ago. Know Your Criminals.

Compliance 151

Compliance cryptocurrency Fraud Regulation 151

PYMNTS

APRIL 4, 2019

But on the whole, she noted, banks can greatly help their efforts in building and leveraging that trust simply by making more of what they do transparent to their customers when it comes to security. Banks need to expose more of their security aspects to consumers so they can seem them in action.

Mobile 169

Mobile Study Security social media 169

PYMNTS

JUNE 11, 2020

This process removes the necessity of submitting documents in person and also results in a faster, more automated and secure way to verify users’ identities. This demand and the security benefits are not the only factors driving biometric AML/KYC tools’ adoption, either.

Compliance 186

Compliance Guidelines Meeting Tools 186

PYMNTS

JANUARY 24, 2020

Better security comes from better communication, and the fraud teams at businesses must speak with all parties involved in a transaction — card issuers, merchants and the payment processors that connect them — that can benefit from sharing insights about consumers. Security’s New Face.

Fraud 153

Fraud Security Online Analysis 153

PYMNTS

OCTOBER 4, 2019

That does not mean older verification methods are obsolete, however: Many companies still rely on knowledge-based authentication (KBA) methods like passwords or security questions, even in areas like business lending — where stringent verification is crucial. Another form of identity security is biometrics.

Online 144

Online Ohio Knowledge Base Regional 144

PYMNTS

MAY 16, 2019

The former intends to integrate the latter’s Contact Center AI (CCAI) into its call center products and, in a recent interview with PYMNTS, Lasserre and Gnan Gowda, Genesys’ senior director of software product management and global security, discussed how this will help the company’s customers without compromising security.

Knowledge Base 100

Knowledge Base Fraud Security Software 100

American Banker

MARCH 24, 2016

But without a brilliant alternative, and done with care, knowledge-based authentication still has value. Asking for static information like a mother's maiden name seems increasingly passé, since shared "secrets" can be stolen or gleaned from the Internet.

Knowledge Base 28

Knowledge Base Cyber Security Security Technology 28

PYMNTS

MARCH 28, 2017

Many smartphone users go through biometric authentication processes every time they unlock their phone using a fingerprint, and many secure applications, including banking and other financial services apps, are enabling users to log into their accounts using a fingerprint or eye scan or other biometric indicators.

Report 100

Report Knowledge Base Security Technology 100

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. Personally identifiable consumer information is encrypted end-to-end, then anonymized, de-personalized and bifurcated to ensure that the data is secure.

Fraud 108

Fraud Knowledge Base Regulation Data 108

PYMNTS

FEBRUARY 19, 2020

Knowledge-based authentication (KBA) tools, which include security questions and passwords, are still just as common as they were a decade ago. Even though technology continues to progress, and automation improves via the adoption of digital technologies, traditional identity verification tools are still widely used.

Knowledge Base 130

Knowledge Base Tools Technology Compliance 130

PYMNTS

DECEMBER 6, 2018

Ron Plesco, principal of Cyber Security, and Bob Ruark, principal of Banking and Financial Services Strategy and KPMG’s FinTech leader in the U.S. You need layers of security,” he noted. As well, the people responsible for ID and access security should work with the people responsible for fraud prevention, and vice versa.

Fraud 133

Fraud Payments Security Cyber Security 133

PYMNTS

JULY 28, 2020

Fraudsters and financial institutions (FIs) are constantly evolving to best each other, and growth in synthetic ID fraud is revealing that many banks must enhance their security measures to stay in the lead. Most banks still need to upgrade their security methods to handle the issue, too. billion from the nation’s consumers in 2018.

Fraud 132

Fraud Data Examples Security 132

PYMNTS

JANUARY 31, 2020

Consumers appear to be moving their debit payments away from brick-and-mortar stores toward eCommerce channels, meaning FIs and card issuers must work to support them while minimizing online security risks. Holistic Security. FIs have long been aware that relying on knowledge-based authentication (KBA) goes only so far.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

JANUARY 24, 2018

Securing the Signatures. Both solutions rely on knowledge-based authentication (KBA) protocols, like those used by banks or other financial players. “If That entails a knowledge-based authentication, which is similar to what a bank does.”. So, that’s the process people are used to, and the process they trust.”.

Knowledge Base 121

Knowledge Base Security Virginia Technology 121

PYMNTS

SEPTEMBER 12, 2019

Merchants may have many remaining questions regarding SCA, but there is clarity on one issue: A single method of knowledge-based identity verification is no longer enough to qualify as security under SCA.

Regulation 126

Regulation Google Compliance Knowledge Base 126

Bobsguide

SEPTEMBER 26, 2022

There will be a vendor technology exhibition area where delegates can browse the latest physical and logical security products and services, exchange ideas, and network with industry experts. LDM therefore ensures a high level of security on business-critical devices such as ATMs or point-of-sale terminals.

ATM 88

ATM Knowledge Base Security Conference 88

The Paypers

APRIL 25, 2022

Pindrop , a provider of voice technology, has released its annual Voice Intelligence & Security Report uncovering how companies might be accidentally inviting fraud, threat mongers from the dark web, and bad actors better prepared to pass authentication.

Knowledge Base 31

Knowledge Base Fraud Security Technology 31

PYMNTS

FEBRUARY 12, 2019

The ideal — the goal of ongoing work across much of the digital payments and commerce industries — is to join two related, but distinct, tasks in the hopes of bringing more security and convenience to financial and retail transactions. The Hot Thing. The key to all that? According to Pointner, that would be facial recognition technology.

St. Louis 144

St. Louis Mississippi User Experience Knowledge Base 144

PYMNTS

AUGUST 21, 2018

However, complacency seems to reign, as Webster and Pointner discussed, and as rendered by this second data point, which is the percentage of consumers comfortable with simply answering knowledge-based questions when it comes to proving their identity. In other words, it’s not just about onboarding. Where We Are Headed.

Data 105

Data Knowledge Base Security Cards 105

NCR

DECEMBER 15, 2017

By allowing consumers to verify their identity with a fingerprint scan or a spoken word, biometrics could eliminate the need for passwords and unique user IDs – removing one of the weakest links in the security chain. These might involve the use of one-time passcodes or knowledge-based authentication.

Fraud 96

Fraud Security Knowledge Base Analysis 96

PYMNTS

SEPTEMBER 5, 2019

Seventeen percent of call centers are looking to replace knowledge-based authentication (KBA) with multi-factor authentication (MFA) to better protect customers from scheming fraudsters, and though that may not seem like a high percentage, it is double the number of centers that were looking at such methods in 2018.

social media 116

social media Tools Fraud Knowledge Base 116

PYMNTS

SEPTEMBER 22, 2017

Among the front row seat observers in the battle for payments security is Stephen Stuut, CEO of online mobile payments and identity verification company Jumio. A large number of banks and online sites still rely on knowledge-based authentication. We also keep a close eye on emerging cyber threats and data breaches. Guess what?

Innovation 140

Innovation Knowledge Base Online Mobile 140

PYMNTS

JULY 26, 2017

This controversy speaks to larger security concerns surrounding the regulation. Regardless of how FinTechs access customers’ financial data, that data is going to be open to more players and shared more often than before, creating privacy and security issues. PSD2 says, if you accessed something, you’re not allowed to store the data.”.

Regulation 110

Regulation Fintech Data Security 110

PYMNTS

OCTOBER 10, 2019

Knowledge-based authentication (KBA) tools, including passwords and security questions, tend to be the primary strategy for verifying identity, and this is true for areas of financial services beyond the consumer world.

Strategy 124

Strategy Lending Knowledge Base Tools 124

PYMNTS

MAY 14, 2018

But call centers could benefit from support of their own, as new research shines light on customer dissatisfaction with automated services like IVR, and call centers’ lack of comfort with information-based security measures. Another area that may be more than ripe for innovation is security.

Trends 100

Trends Knowledge Base Survey Security 100