article thumbnail

10 Questions Banks Should Ask About Their Digital Account-Opening Capabilities

Perficient

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?

article thumbnail

3 Steps to Becoming the Steve Jobs of Accounting

Abrigo

Zuckerberg stuck to social media, and Facebook now has more than 1 billion active users each month. Consider the knowledge base of your partners and staff when identifying a specialty. They all followed a similar path to success: excelling at one thing and developing that specialty. Do what you know.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Facebook’s Libra And The Future Of Digital Identity

PYMNTS

Many developers are leveraging biometrics to protect their customers, as such technologies provide safer alternatives to passwords and knowledge-based verification systems. Developments From Around the Digital Identity World. Apple announced its own digital ID program, Sign In with Apple, at its recent Worldwide Developers Conference.

Apple 158
article thumbnail

TD Bank On How AI, MFA Are Changing Call Centers

PYMNTS

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.

article thumbnail

How TD Bank Uses Voiceprints To Personalize — And Secure — Call Center Interactions

PYMNTS

Whether bank or business, call centers need to make sure they’re providing an innovative, robust experience for the customer online, over the phone, through mobile apps and on social media. That can make the authentication process tricky when it comes to satisfying consumers who want things done quickly.

Security 152
article thumbnail

Fiserv Rolls Out Enhanced Consumer Authentication Solutions

PYMNTS

In a press release , Fiserv said the two new solutions expand beyond knowledge-based consumer authentication that can be vulnerable to fraud. Fiserv, the global provider of financial services technology solutions, announced on Wednesday (Aug. They use a five-digit code via text or email that is valid only during the call.

Fraud 101
article thumbnail

How Friendly Friction Builds Better Banking Experiences

PYMNTS

According to a recent study by Citibank , 31 percent of consumers use their mobile banking app more than any other — placing mobile banking behind only social media and weather for most frequented mobile destinations. Consumers’ preferences are undeniably shifting digitally when it comes to banking and financial services.

Mobile 169