Combining Risk Based and Continuous Biometric Authentication in Financial Services
Mar. 14, 2018
With account fraud rising and large amounts of personal information already compromised, financial institutions realize the shortcomings of basic passwords and OTPs and the need for biometric authentication to bolster security and enable a seamless user experience. However, many biometric platforms still use knowledge-based information to enroll customers, which makes it easy for hackers to create new accounts using personal identifying information.
It is necessary for financial institutions, holding personal information that employees and consumers hold most dear, to take their security to the next level. By enabling a digital identity that leverages biometric authentication as well as continuous behavioral authentication, the user is validated throughout the entirety of their session, ensuring transactions are being conducted at high security levels and mitigate exposure to fraudulent attacks.
VP Marketing, BioCatch
VP Enterprise Solutions, Samsung SDSA
Sr. Director - Head of Product & Strategy, Thomson Reuters