Harnessing Fintech Innovation in Retail Banking

HARNESSING FINTECH INNOVATION IN RETAIL BANKING 7th – 8th June 2017, London Defining steps for sustained innovation which keep banks relevant to consumers now and in future. The only event to put retail banks at the centre of the fintech discussion. This event differs from any other ‘fintech’ event; supporting retail banks in determining a sustainable strategy for innovation over the long-term in order to stay relevant and competitive to consumers. What makes this event unique is that we have

Using biometrics to marry trust and convenience in the banking world

This is a guest post by Howard Berg, Senior Vice President Gemalto, MD of Gemalto UK Ltd Last month, a new survey of UK consumers found a growing appetite for the use of biometric methods to access and authenticate online banking services. In particular, it found that consumers would prefer to use fingerprint recognition than the traditional methods of passwords or memorable questions, which have been undermined by ongoing data breaches and hacking scandals. The news is unsurprising given the

Securefact, Socure partner on identity verification solution for Canadian banks

Securefact and Socure have partnered to provide Canadian banks and credit unions access to a range of identity verification solutions in an effort to digitally onboard and verify more customers faster. Securefact’s digital identification service SIDni, combined with Socure’s Social Biometrics Platform will provide Canadian financial institutions with advanced identity verification capabilities by applying machine learning techniques with biometrics and data intelligence from email, phone, IP, social media and the internet. “Our partnership with Socure further demonstrates our commitment to

Lloyds Bank to trial Microsoft biometric authentication for online banking

Microsoft has partnered with the Lloyds Banking Group to enable select Windows 10 users to log-in to their online banking accounts using their face via the Windows Hello feature, according to a report by TechRadar. Lloyds said it would start trialing the new feature some time in “the second half of the year,” with Lloyds Bank, Halifax and Bank of Scotland customers being the first to test out the new security option. As an integral security feature of Windows 10,

India’s tax department aiming to link bank accounts to Aadhaar by April 30

India’s tax department announced that all individuals who opened a bank account from July 2014 to August 2015 will have to submit know your customer (KYC) details and their Aadhaar number to banks and financial institutions by the end of the month, according to a report by The Times of India. Aadhaar is the 12-digit unique identification number issued by the Indian government to every individual resident of India. The Aadhaar project aims to provide a single, unique identifier which

ANZ bank to add Nuance voiceprint ID feature to mobile app

ANZ bank plans to introduce a voiceprint biometric identification feature for mobile apps, developed by Nuance, which will secure all transactions over $1,000, according to a report by Ausdroid. The new security feature will begin testing immediately in a pilot involving a select group of ANZ employees and customers, before it is rolled out to a wider customer base via the ANZ Go Money mobile app in May. In the past, customers had to visit a branch in person, or

PyraMax Bank to use Fiserv DNA platform with palm-vein biometric authentication

PyraMax Bank has selected Fiserv, Inc.’s DNA account processing platform with palm-vein biometric authentication to help the bank update its retail banking operations, create a seamless customer experience and drive the growth of commercial loans and deposits. The bank will move from another vendor’s core system to Fiserv’s DNA account processing platform, in which it will add integrated mobile, online and branch banking solutions, including palm-vein biometric authentication. After a thorough assessment that resulted in a shortlist of four vendors

Equifax survey finds that 56% of UK customers prefer biometric banking

Equifax has published new research that found that 56 percent of UK consumers would prefer to use biometric authentication over traditional options like passwords to access their financial accounts online, according to a report by Information Age. In an online survey conducted through YouGov, Equifax found that 33 percent of UK consumers prefer to use fingerprint recognition as an authentication method to log into their accounts, followed by iris scanners (13 percent), facial recognition (7 percent), and voice recognition (3

Study finds most banking customers want advanced authentication methods

Iovation partnered with global research and advisory firm Aite Group to release a new study titled “Moving Beyond the Password: Consumers’ Views on Authentication”, which revealed that 85 percent of respondents want to replace passwords with advanced authentication methods. The survey polled nearly 1,100 consumers across four generations who use online and/or mobile banking platforms — including millennials (35 percent), Gen X’ers (26 percent), Baby Boomers (32 percent) and seniors (7 percent) — to better understand their attitudes toward various

Digital bank EON selects Daon’s IdentityX platform for biometric authentication

Daon revealed today that Union Bank of the Philippines’ digital banking platform EON selected its IdentityX platform to improve security and the customer experience. IdentityX enables EON customers to log in to the EON mobile app using biometrics. “We chose to partner with Daon after extensive research in this space because they demonstrated a deep knowledge of biometrics,” explained Paolo Baltao, EON’s head advocate. “Daon is a global leader in large-scale authentication deployments with many live production systems in the