CSC Teams with Daon to Launch Multifactor Identity Authentication Offering for Banking

May 16, 2012 - 

CSC has paired up with Daon, a leader in biometric authentication technology, to launch ConfidentID Mobile. The biometric identification service is primarily aimed to give banks and other financial institutions a better grip on their security, ensuring that they have better protection from identity theft and fraud. The technology is based from Daon’s IdentityX ® platform which provides reliable identity authentication for all types of transactions including mobile and online banking.

ConfidentID Mobile allows banks and other financial institutions to custom build security protocols that can be specifically tailored for every kind of transaction. The full service combines several security measures such as passwords, personal identification numbers (PINs) and public key infrastructure (PKI) security architecture, together with biometric data using either facial recognition, voice recognition and palm identity. Global positioning systems, IP location and cellular triangulation can also be used for further identity authentication.

The program will help not only identify individuals but also their transactions. The multi-layer security system will help financial organization meet the strict standards made by the Federal Financial Institutions Examination Council. ConfidentID Mobile is a hardware independent software system that can easily be installed in the latest models of mobile phones and tablet devices.

Basically, the application works the moment a client starts a transaction using their mobile device or on the bank’s website. When the client transfers money from their account to another, the user will be made to provide the necessary authentication information. As soon as the transaction is completed, ConfidentID Mobile sends a message informing the service provider of the successful authentication without the need for further action by the client.

Daon has been in the business of providing identity assurance software products, which are designed according to the needs of government and private sector stakeholders all over the world. These products can be adjusted according to the size of the company and have been selected to protect millions of identities.

Find biometric identity verification and authentication solutions in our biometrics service directory.

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About Stephen Mayhew

Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.