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 The Face of Fraud. Understanding Customers.

Fraud 273

Fraud Strategy Security Cards 273

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

AUGUST 21, 2020

And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there. Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.

Boston 269

Boston Massachusetts Knowledge Base Policies 269

PYMNTS

APRIL 22, 2020

Banks are jostling for space in the market because an expanding number of FinTechs and large-scale technology companies are competing for the same set of consumers. Banks must enable fast and seamless onboarding experiences, but these processes should also be secure.

Security 133

Security Data Fraud Tools 133

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

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

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.

Security 109

Security Payments CA Data 109

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 Mobile Knowledge Base 309

PYMNTS

JUNE 11, 2020

This is fueling a wave of interest and need for digital alternatives, many of which leverage biometric technology. The technology itself is not new — many consumers already use biometric authentication in their daily lives, with 80 percent of consumers using their fingerprints to unlock their smartphones, for example. Pennsylvania Gov.

Compliance 186

Compliance Guidelines Meeting Tools 186

PYMNTS

OCTOBER 4, 2019

Technology providers are exploring a range of solutions to seamlessly verify customers’ identities, with the biometrics market projected to reach more than $59 billion by 2025. Another form of identity security is biometrics. billion by 2024. In addition, unlike fingerprints, veins do not change with age. billion.

Online 144

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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

FEBRUARY 19, 2020

In other small business banking news , rising Know Your Customer (KYC) and other risk mitigation regulations have pushed the ecosphere into a closer look at digital identity technology, a market that is expected to hit $12.8 billion in valuation by 2024.

Knowledge Base 130

Knowledge Base Tools Technology Compliance 130

PYMNTS

MARCH 28, 2017

While it may still seem like something that was once reserved for science fiction, today consumers are increasingly interacting with biometric technology without giving it a second thought. . Meanwhile, iris-based identity management technology solution providers IriTech, Inc.,

Report 100

Report Knowledge Base Security Technology 100

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 Plesco pointed out, criminals have managed to steal credit bureau data, giving fraudsters an in when it comes to such theft. The antidote?

Fraud 133

Fraud Payments Security Cyber Security 133

PYMNTS

APRIL 4, 2019

And those relationships, she noted, are an excellent starting ground for succeeding with innovations “where other technology platform have recently failed.”. Banks need to expose more of their security aspects to consumers so they can seem them in action. Bringing the Bank Back to the Center of Commercial Life.

Mobile 169

Mobile Study Security social media 169

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

JANUARY 24, 2018

Despite major advancements in technology, however, the notarization process continues to be slow and outdated. In a recent interview with PYMNTS, Mayer explained that many in the industry are interested in seeing the technology take off, but there are legal and other challenges that can get in the way. Securing the Signatures.

Knowledge Base 121

Knowledge Base Security Virginia Technology 121

PYMNTS

OCTOBER 10, 2019

Rising Know Your Customer and other risk mitigation regulations have the financial services world eyeing digital identity technology. Already seeping into the consumer services world, digital identity technology is expected to hit a $12.8 billion valuation by 2024, according to the latest PYMNTS Digital Identity Tracker.

Strategy 124

Strategy Lending Knowledge Base Tools 124

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. According to Pointner, that would be facial recognition technology. The Hot Thing. Legacy Roadblocks.

St. Louis 144

St. Louis User Experience Mississippi Knowledge Base 144

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

SEPTEMBER 5, 2019

One of the biggest changes is that call centers are moving away from knowledge-based authentication (KBA) methods like passwords and PINs and employing methods with multi-factor authentication (MFA). Google is integrating speech recognition technology into its Contact Center AI platform as a way to streamline customer calls.

Tools 149

Tools Knowledge Base Google Technology 149

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

NCR

DECEMBER 15, 2017

Biometric technologies hold huge potential for the retail banking industry. 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. Growth in biometrics.

Fraud 96

Fraud Security Knowledge Base Analysis 96

PYMNTS

SEPTEMBER 19, 2019

FIs are thus turning to a host of technologies to protect customers from account opening and other mobile channel fraud forms. This is where AI and ML technologies can come in handy. These technologies still have a few hurdles to overcome, though.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

NOVEMBER 15, 2017

Put another way, and to paraphrase a hockey great: When it comes to identity verification and the technology that comes with it, FIs need to skate where the technology is headed, not where it has been. You are in the technology business, and you, more than anybody else, should understand that evolution is constant,” Barnhardt said.

social media 100

social media Fraud Knowledge Base Data 100

PYMNTS

MARCH 14, 2017

Sarah Clark, GM of identity at Mitek , joined Karen Webster to discuss what process and technology can do to help meet AML requirements to truly authenticate who people are. But technology is helping to take the risk associated with the human element out of these financial interactions. “I In the U.S.

Meeting 111

Meeting Fraud Knowledge Base User Experience 111

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

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

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

AUGUST 21, 2018

How, then, to build a “chain of trust” — one that endures, aided by technology, and one that helps financial institutions (FIs) ensure that the people on the end of the transactions are who they claim to be? They trust that the institution has done their homework and is applying state-of-the-art security,” he told Webster.

Data 105

Data Knowledge Base Security Cards 105

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

PYMNTS

DECEMBER 26, 2016

As a result, authentication and identity verification practices that rely on data only, such as passwords and knowledge-based authentication questions, have been scrutinized and are largely seen as no longer sufficient. billion end users making domestic as well as international P2P payments.

Mobile 109

Mobile Payments eBook User Experience 109

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

AUGUST 22, 2018

Fiserv, the global provider of financial services technology solutions, announced on Wednesday (Aug. In a press release , Fiserv said the two new solutions expand beyond knowledge-based consumer authentication that can be vulnerable to fraud.

Fraud 101

Fraud social media Knowledge Base Cards 101

Gonzobanker

JANUARY 4, 2024

2 Break through the technology “trough of disillusionment” CFOs everywhere have watched with alarm as annual spend on CX software has increased three-fold (or more). Vendors are pushing lucrative subscription-based SaaS models and point solutions have proliferated to an unsustainable level.

Customer Experience 114

Customer Experience Community Knowledge Base Tools 114

PYMNTS

MARCH 17, 2017

But what’s left out of this picture, said David Dewey, director of research at Pindrop Security , is the element of voice. Founded in 2011, Pindrop’s security solution was built to protect banks and other financial institutions from call center and voice fraud. They let me right in,” Dewey said. at Georgia Tech.

Fraud 107

Fraud Cards Houston Retail 107

PYMNTS

APRIL 11, 2017

The reason Yahoo was targeted, said Geiman, was because bad guys wanted to get the answer to knowledge-based questions. Thus, security of data becomes top of mind within a firm. “If If you are not a technology person and you are running a large company,” he said, “it is an unknown thing to you.

Data 101

Data Online social media Fraud 101