November 21, 2016 -
In an effort to provide an advanced layer of security to its customers and eliminate the need for complex passwords, Bank Leumi’s credit card subsidiary, Leumi Card, will introduce the integration of a mobile identity verification solution by SecuredTouch based on behavioral biometrics.
SecuredTouch’s technology allows for user identification based on a unique personal usage profile within the mobile device, including such attributes as finger size, touch pressure, touch surface and more. The solution allows for the use of a seamless security factor and does not require any prior registration. The solution’s identity verification continuously monitors every in-app activity, in addition to the initial login stage giving Leumi Card the ablity to identify, in real time, whether the card owner is the one operating the app
“This is an international breakthrough that enhances user experience while solving the known problem of poor conversion in financial apps, due to the need for complex passwords,” commented Ohad Maimon, EVP Business Development & Strategy, Leumi Card. “Integrating the technology in Leumi Card’s mobile app is aligned with regulators’ directives for digital banking communications that require two factors of authentication.”
The integration of this technology, which will be available in Leumi Card’s mobile app in the coming months, follows a comprehensive experimental and testing phase.
Leumi Card has presented the pilot results and demonstrated the technology to global financial institutions with which the company has collaborations in the field of innovation. As a result, SecuredTouch is in advanced engagements towards further integrations with these parties.