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What’s Next In Authentication Technology

Hunting down and dealing with fraudsters quickly and accurately doesn’t just mean keeping the fraudsters out – it means knowing what customers need to be allowed in. That’s where having foolproof authentication becomes critical. ThreatMetrix’s new product, Trust Tags, is a “next gen” authentication tool that can help reduce fraud costs, increase revenue, and enable authentication without consumer friction. CYBER CRIME

All businesses nowadays must have a way to prevent online fraud – and those who provide services online must also have a way to establish and preserve trust with browsers and buyers visiting their sites. ThreatMetrix has a view on this and shared those views in a recent report entitled, “Trust Tags: Leveraging Shared Global Trust Intelligence to Enable Frictionless Authentication.” Here are key takeaways from the report:

Context-Based Authentication:
Trust Tags are a new technology that uses shared trust intelligence to instantly establish, preserve, and update granular levels of trust for each website or application visitor. These visitors could be anyone from remote employees accessing a sensitive application to consumers at an e-commerce site to customers at an online services site.

Digital Labels:
Trust Tags act as digital labels that can be applied to user attributes and entities within the Global Trust Intelligence Network. They can either be private, applied by individual organizations, or global, available to all organizations through ThreatMetrix.

Fraud Prevention and Logon Protection:
Both of these overlapping categories require advanced authentication, but the challenge for businesses is how to balance security and usability at the right price (TCO). Thus, they need a ready-to-go solution that works with their existing authentication systems and infrastructure, and adds intelligence to identify risky situations.

Maximizing Revenue, Minimizing Fraud:
Merchants should have a way of knowing instantly that new customers can be trusted, and for new consumers to make first and subsequent purchases quickly and without the hassle of a time consuming process.

Integration and Implementation:
Trust Tags are set, checked, and updated through standard ThreatMetrix API calls.

 

For a complete list of practical Trust Tag applications and uses, as well as how the technology can increase business revenue and profitability, reduce fraud costs, and strengthen authentication without adding friction, download the full white paper by clicking the button below.

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Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the February 2019 PYMNTS Digital Fraud Tracker Report

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