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With people spending more and more time on their mobile phones — an average of three hours and 15 minutes on their phones every day, with the top 20% of smartphone users spending upwards of four and a half hours — “everything mobile” is driving digital transformation. Unfortunately, new fraud opportunities have come along f…

Adaptive identity authentication is the process of tailoring each customer authentication to the specifics of the request. It involves calibrating multiple sets of risk indicators to determine the type of authentication needed, and how strong to make it. Adaptive identity authentication is increasingly important. Customers want to start and finish their interaction…

Security and Authentication in a Digital World For many years we’ve been reliant on usernames and passwords to secure digital accounts – but we know these aren’t adequate. Mass data breaches have made account information and passwords available to buy extremely cheaply on the dark web.  They simply don’t do the job – so what happens next? Any new authentica…

Customer identity management is a term that is subject to a number of definitions.  I will define it here for financial services and regulated companies as the business strategy and processes by which an organization establishes who a customer is and ensures that activity on their accounts is carried out by them. The goal of CIM is to meet regulatory rules and…

How can a business tell that you are who you say you are, in the fastest, most consistent and most effective way? Along with cybersecurity, this may be the hottest topic in financial crime and fraud prevention today: authentication. As one of the founders of the MIDAS Alliance, I’ve just spent a day with experts at the front lines of this topic, as we met in the ausp…

Many of you reading the headline will be thinking – yes we do! We are even getting bored of talking about PSD2. But I’m not talking about us in our payments bubble. I’m talking about the general public. Small business owners and people in love with their Amazon 1-Click don’t know that PSD2 is about to rock their world, or at least change how they take and make payme…

In a previous blog I have written about the messaging that is, or rather isn’t happening to consumers around PSD2. We are now seeing some attempts to educate the public, though this is often hidden in the issuing of new terms and conditions for bank accounts, or in media scare stories that suggest a customer data free-for-all. It wasn’t until I saw the final animatio…

By now, you probably don’t give a second thought to unlocking your smartphone with biometrics such as a fingerprint or facial scan — even though the latter wowed the world when it debuted in 2017. As consumers, most of us still consider facial recognition the current state of the art for authentication. But soon your voice and the rest of your fingers will be involved…

The use of biometrics is growing, to prove identity when new financial accounts are opened and when existing accounts are used. As more interactions become digital, biometric use has become acceptable to more customers. This was illustrated in a recent independent survey carried out on behalf of FICO of 5,000 people across ten countries. In all countries surveyed, mor…