May 23, 2014 -
Logic PD announced this week that its team of engineers and designers addressed the challenges of identity fraud and highlighted new insights on how the Internet of Things technology can help improve people’s lives during the Logic PD ACME-thon held late last month.
The solution is a multi-modal security platform for card purchases that uses near field communication authentication coupled with camera imaging to protect users. The way it works is that when a user makes a mobile payment at the point of sale, the kiosk takes a photograph of the purchaser.
This image can then be sent via the cloud into the user’s digital transactional record, which was stored and distributed via SeeControl in this particular example. As a result, users are able to identify who made each purchase, as well as those individuals who are fraudulent well in advance of banks and financial institutions.
“Our hackathon was an opportunity for our experts to explore the possibilities of useful solutions to today’s challenges,” says Scott Nelson, PhD, CTO and executive vice president at Logic PD. “With the recent significant breaches in security at leading retailers, the need for this type of solution is particularly meaningful.
“In a real world application, we would begin this process through our Adrenaline series,” he adds. “We begin with a one-day user centric business modeling workshop and transition to a rapid prototype process and a pilot service. This allows us to test the solution with minimal start-up costs to validate the concept and get to market faster. The Adrenaline Series is an agile, iterative solution for navigating the IoT ecosystem with a quick, low risk, formalized development process that allows customers to assess needs, pilot and validate a solution with users to deliver ongoing value and participate in the subscription economy.”