Today’s consumers are tapping nontraditional banking and payment solutions more often, turning to neobanks or alternative payment solutions such as mobile wallets to conduct many of their routine transactions. Buy now, pay later (BNPL) alternatives have become the fastest-growing eCommerce payment method, for example, with...
Buy now, pay later (BNPL) options are becoming increasingly attractive to consumers, but that growing popularity is also making them a more enticing target for fraud. In the Alternative Payments Tracker, online phone accessory retailer CASETiFY’s Mike Jia explains why better authentication measures are necessary...
In providing secure verification for online accounts, there are several alternatives to legacy username and password-based processes that fall under the umbrella term “advanced ID verification.” Such solutions include technologies that make use of voice recognition, keyboard logging, liveness detection with selfies and fingerprint scans,...
Money laundering is a perpetual challenge for banks, payments providers and the oversight agencies assigned to monitor them. Experts estimate that up to 5% of the global gross domestic product (GDP) is laundered each year, a total of $2 trillion, and half of all money...
Consumers’ banking and payment preferences have swiftly become digital-first, with mobile apps and eCommerce channels quickly replacing in-person branches or retail stores for many customers. These newfound preferences for online solutions also means more and more consumers are willing to experiment with emerging, alternative payment...
Global digital security and privacy firm Avast is planning to acquire digital identity and authentication company SecureKey Technologies for undisclosed terms, according to a press release on Thursday (March 24). SecureKey offers next-generation privacy-enhancing services that focus on streamlining access to online services while ensuring...
Even without the urgency of cryptocurrency-enabled Russian sanctions violations, bringing know your customer (KYC) identity verification to decentralized finance (DeFi) was always a matter of “when,” not “if.” And now the conversation is turning to “how.” Privacy-focused DeFi cryptocurrency exchanges and other projects have long...
FIs with insufficient digital identity protocols risk being hit with a one-two punch from debilitating money laundering schemes as well as stiff government agency penalties that go with them. In the Digital Identity Tracker, OneAZ Credit Union’s Margaret Chamberlain explains how analytics-based authentication and document...
The contours of what biometric data can be collected, how and when may wind up being defined in part by the legal system, in cases that come state by state, suit by suit. Various cases making their way through the court system in the United...