Traditional online identity verification solutions are failing to stand up to today’s fraudsters. In 2016, more than 25% of identity theft fraud involved the use of stolen information to open new accounts.
Nothing is more frustrating to consumers than having to re-authenticate an account in the middle of a transaction. Traveling and need to make a purchase from a new location? Shopping online from a different device? These legitimate transactions are often flagged for fraud and require customers to have to complete step-up authentication, adding yet another unnecessary step in their online shopping journey.
Businesses regularly use device identity for fraud prevention and to authenticate users. Browsing the web on your cell phone? These solutions collect information on your mobile provider, phone model, internet connection and other data to link your unique device back to you.
I attended the K(NO)W Identity Conference last week, which has emerged in the last year as the premier event for the identity industry.
When it comes to making mobile banking transactions and payments, today’s consumers demand a secure and seamless experience. To achieve this, BioCatch and Samsung SDS have teamed up to offer continuous passwordless authentication throughout the entirety of user sessions.