Customer onboarding must be seamless, effective and satisfactory for customers. Still, these objectives often run into the other major goal of customer onboarding: weeding out potential bad actors that wish to defraud the company or its customers. Identity fraud cost consumers more than $56...
More businesses than ever are using biometrics to make sure that people accessing services and making transactions are who they say they are. But as Jumio Chief of Digital Identity Philipp Pointner told PYMNTS in an interview, efforts to establish verification standards are currently bifurcated....
Consumers have become dependent on digital interactions, and they are focusing more on privacy as a result. They want to feel secure and avoid processes that take too long when sharing their personal information, but their skepticism of technology can serve as a major stumbling block. One survey revealed that 82% of...
iProov, the London-based online biometric face authentication firm, announced a $70 million investment from Sumeru Equity Partners on Thursday (Jan. 6). Headquartered in Silicon Valley, Sumeru said it invests in technology firms that they say have the potential to change the world. They are focused on assisting...
Canada’s privacy regulators have ordered Clearview AI, the New York-based facial recognition company, to comply with a previous directive to stop collecting images of residents and delete pictures it has gathered. The latest ruling comes on the heels of a finding last February following a...
Although more businesses are using biometric verification to offer smoother and safer user experiences, customers are still wary to trust this tech with sensitive personal details. In the Digital Identity Tracker, the International Biometrics + Identity Association’s Robert Tappan explains why businesses must emphasize transparency...
Fraud may be on the rise, but the number of consumers using biometric authentication methods has not risen with it. Fewer than 10% of consumers use these methods, PYMNTS’ research has found, with customer preferences for accessing digital accounts closely tied to survey respondents’ ages....
So much of commerce has gone online, so many transactions are done digitally as the pandemic lingers, that it might be tempting to think that securing payments, naturally, would secure all other aspects of internet interaction. Secure the bank account details, in other words —...
Consumers continue to use digital tools to safely and conveniently interact and transact during the pandemic — but when it comes to trust, many are concerned about how companies are handling their data. A fair share is even concerned that most companies they interact with...