Commerce in the digital world means making sure someone is who they say they are — in real time, and where Social Security numbers or isolated identifiers are not enough. Socure CEO Sunil Madhu tells PYMNTS how it’s possible for digital identity verification, beyond just matching selfies to drivers’ licenses, can let the good customers transact and turn the bad guys away — across a single API — thanks to the robust digital footprint that the good guys leave behind.
Consumers are generally accustomed to using a fingerprint to unlock their banking apps – but, are they willing to use their face – and do they think it’s secure? Hari Gopalkrishnan, managing director of consumer facing platforms and technology for Bank of America, discusses the bank’s efforts to make biometrics appealing authentication options for consumers, including its facial biometrics pilot program with Samsung.
Veridium, a provider in identity access management solutions using biometrics as the primary authenticator, announced news that it has been awarded a grant from the Digital Financial Services Innovation Lab to develop and field test biometric authentication technology on unmodified Android smartphones, which can improve the way people in developing countries access and enroll in financial and government programs.
Customers at one of KFC’s location in China will be able to pay for their meals with “Smile to Pay” biometric facial recognition technology.
Hearing the news “the CFPB is coming” as a credit agency or financial services professional is something akin to hearing the news “winter is coming” as a Game of Thrones character — it means nothing good is about to happen to you, and more likely than not, you are in a lot of trouble.
Central banks have expressed concern over the security of payments and the messaging systems that help facilitate inter-bank transactions, a Reuters news report said Thursday, Sept. 28.
The Equifax breach was bad enough — but IntraNext CEO Patrick Brown told Karen Webster that one of the biggest areas of vulnerability the fraudsters are looking to exploit with their newfound data is the call center. Brown explains why — and then offers his thoughts on how technology can equip call center agents with better ways to authenticate consumers and protect their sensitive card data.
The brave new world of financial services, digital by design, has brazen hackers lurking in the shadows. Equifax hackers made off with some of the most basic and useful data points of 143 million individuals, meaning that some innovation and investment in next-generation authentication tech will soon accelerate, according to Jumio CEO Steve Stuut. He tells Karen Webster what must anchor those decisions in Topic TBD.
Whole Foods Market is the latest company that has suffered a security breach, with the national supermarket chain revealing that its customers’ payment card information has been illegally accessed.
Equifax is facing yet another legal woe from its massive data breach. This time, New York State’s financial services regulator has issued a subpoena to the company, demanding that it provide more information about the leak.