If you’re playing the slots in Vegas this week, there’s a good chance they’re coming up: Biometrics; EMV chip cards; Mobile security.
And if you’ve been following the Digital Identity Tracker™ (or just the industry itself) in the 12 months since last year’s Money20/20 conference in Las Vegas, these three topics have been constant newsmakers, as security providers and businesses alike look to offer top-notch protections in an age of rising fraud and cybercrime.
As the 2016 Money20/20 conference rolls along, PYMNTS caught up with Brett McDowell, executive director of the Fast IDentity Online (FIDO) Alliance, to discuss how biometrics, EMV and mobile security have evolved over the past year and what the future of digital identity holds.
Here’s a preview:
Besides all being featured at the Money20/20 2016 Conference, McDowell noted that biometrics, EMV and mobile security each share another similar element: All three potentially stand to replace password/PIN credentials, which, he said, are often more susceptible to hackers and other bad actors.
He pointed to the recent security breach at Yahoo, in which fraudsters stole login credentials, comprised of email addresses and passwords, for more than 22 million user accounts. He said that biometrics could have the potential to remove the need for usernames and passwords, much the way EMV is intended to eliminate the need for cardholders to enter debit card PINs.
Gazing into his figurative crystal ball, McDowell predicted that the common thread of PIN and password removal would become critical as security breaches continue to pour in.
"It keeps getting worse every year," he said. "So, as long as we have that trend, we have to have solutions that don't put the credentials in the cloud where they can just walk out the door."
Around the Digital Identity world
Developments in EMV, biometric and mobile technologies can be seen in the marketplace, as well as at Money20/20. As new innovations in the space make more complete solutions feasible, security providers are looking to partner with other identity service companies to offer the most robust and technologically advanced products possible.
Software analytics provider FICO announced it had been tapped by buddybank to provide a decision management platform for the Italian mobile-only bank’s launch in 2017. Meanwhile, Gemalto was recently picked to design a mobile payment security system for MarketPay’s new banking card.
Similarly, identity and security solutions provider GMO GlobalSign announced last month that it would integrate a new enterprise mobility security feature designed to give mobile identities to mobile devices as a result of a new partnership with MobileIron.
For all the latest news around the Digital Identity world, check out the Tracker News section.
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About The Tracker
The PYMNTS.com Digital Identity Tracker™, powered by Socure, is a forum for framing and addressing key issues and trends facing the entities charged with efficiently and securely identifying and granting permission to individuals to access, purchase, transact or otherwise confirm their identity.