June 21, 2017 -
Syniverse and Pinn have partnered to combine Syniverse’s global platform with Pinn’s attribution solution to deliver a stronger level of transaction security and continuous attribution.
These capabilities are required by impending regulation like Payment Services Directive 2 (PSD2) and the General Data Protection Regulation (GDPR).
Pinn’s attribution solution collects data regarding a user’s behavioral biometrics — which use the recognition and analysis of an activity that users do frequently, such as how they hold their smartphone or type on a keyboard – from various locations to create a singular and seamless form of identification.
“Syniverse and Pinn will uniquely address the challenges of PSD2, GDPR and other regulations that increasingly push cybersecurity requirements, as financial institutions and businesses across every sector look to mitigate systemic risk,” said Tim Moss, chief operating officer of Syniverse. “Pinn’s behavioral biometrics platform and Syniverse’s global, resilient and secure platform will provide the continuous attribution, which is a critical concept that is the new imperative for CIOs and cybersecurity leaders to ensure that the individuals and devices in an environment are who and what they are supposed to be.”
PSD2 is a payment services directive governing payments and payment processing in the European Union that includes new API access requirements for businesses outside financial institutions.
In addition, the European Union is further strengthening cybersecurity requirements via GDPR.
In a recent blog post, EyeVerify solutions engineer Ryan Schroeder discussed the essential aspects of PSD2 and what payment service providers will need to do in order to be compliant with the law’s strong customer authentication (SCA) requirements.
“The expansion of APIs under PSD2 is creating a whole new business landscape where any company can enter the payments realm. Consequently, these companies and their financial institution counterparts must be able to address mounting cybersecurity obligations of both PSD2 and GDPR that can only be addressed by continuous attribution,” said Will Summerlin, CEO and co-founder at Pinn. “These regulations are only the beginning and will impact an expanding variety of business segments. With the extensive reach and connectivity of Syniverse’s platform, we’ll be able to bring Pinn’s continuous attribution via our behavioral biometric platform to this new generation of secure transactions.”