Device ID was one of the first methods organizations used to prevent fraud and authenticate users. It’s still in widespread use, but device authentication isn’t nearly as strong an identity solution as many think.
Monitoring user behavior is one of the best ways to detect cyber attacks and fraud in real time. In recent years, user and entity behavior analytics (UEBA) and behavioral biometrics have emerged as two promising fields in the world of cybersecurity. Though both focus on detecting anomalous user behavior, there are critical differences between the two.
Traditional authentication solutions can be a major hindrance to user experiences. Stronger security simply doesn’t play well with ease of use for consumers.
Earlier this month, The European Banking Authority (EBA) issued new guidance on the implementation of the regulatory technical standards (RTS) on strong customer authentication (SCA).
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.