World Economic Forum releases digital identity report

The World Economic Forum (WEF) recently released a report on the importance of digital identity for financial institutions. The report, entitled “Disruptive innovation in financial services: A blueprint for digital identity”, is intended as a guide for chief strategy officers at financial institutions, as well as policy makers, who are interested in the topic of identity and want to understand digital identity and their own potential role in the creation of robust digital identity systems. The report lays out, in

ABI Research predicts that chip card vendors will adopt new form factors

ABI Research has released new research that finds that the Chinese and U.S. EMV (Europay-Mastercard-Visa) payment cards markets are experiencing double-digit year-on-year growth, responsible for more than 50% of 2.8 billion EMV cards shipped worldwide. But as the migration phase for these market regions comes to a close, the industry will soon experience a ripple effect driven by a flattening market in China and a dip in U.S. shipments due to overstocking. ABI Research finds the proliferating negative discussions among

Integrated Biometrics sees growing global demand for fingerprint products

In an effort to keep up with growing global demand for reliable fingerprint biometrics products, Integrated Biometrics announced that it has published French and Spanish versions of its company website. “The demand for reliable fingerprint biometrics products continues to grow across the globe, which is driving our development of our multi-lingual website and outreach at industry events with strong international presence,” Integrated Biometrics Vice President David Gerulski said. Gerulski explained that interest from Spanish speaking countries and African nations with

New Gozi Trojan can dupe some behavioral biometrics security measures

A new version of the Gozi banking trojan that is currently active in Japan, Spain, and Poland, has the ability to go undetected by some behavioral biometrics security measures, according to a report by Softpedia. The new Gozi version targets a range of financial organizations including PayPal, CitiDirect BE, ING Bank, Société Générale, BNP Paribas, and the Bank of Tokyo. This latest version of Gozi is not related to GozNym, another banking trojan that been circulating following last year’s leak

NetGuardians, BehavioSec to provide behavioral biometric technologies

NetGuardians and BehavioSec are partnering to leverage their complementary technologies to provide comprehensive fraud protection to both financial institutions and their clients around the world. NetGuardians specializes in user behavior analytics and profiling to implement controls for fraud and compliance issues, while BehavioSec’s behavioral biometric technology analyzes behaviors at the user transaction level and alerts the organization of any behavior changes that signal misuse. Through their new joint offering, the companies will enable financial institutions to protect clients by statistically

NICE Actimize launches multi-factor authentication solution

NICE Actimize has launched Authentication-IQ, a solution that manages multiple authentication methods across financial institution channels with an integrated strategy in an effort to improve security, customer experience, and cost efficiency. NICE Actimize’s Authentication-IQ applies advanced analytics that intuitively select the most effective authentication method to use in a specific transaction, based on the risk of fraud, consumer preference and cost efficiency. Using Authentication-IQ, financial institutions are able to optimize authentication methods across digital channels and the contact center to

Guidance for financial institutions recommends biometrics on mobile

The Federal Financial Institutions Examination Council (FFIEC) is urging financial institutions to abandon single-factor authentication in favor of more secure methods, like biometrics, in guidance on digital payments. The FFIEC has updated its Retail Payment Services Handbook with an appendix on mobile financial services, adding another argument to the corporate and regulatory case for biometric authentication. The FFIEC is an advisory body made up of representatives from five federal agencies and a state regulator, and is tasked with setting the

Biometric Update discusses passwords and biometric authentication on financial news show

A Special Report on Biometrics and Banking that was recently published by the Biometrics Research Group was featured on the Financial Sense Newshour radio program. Rawlson King, a contributing editor and lead researcher at BiometricUpdate.com, talked to Cris Sheridan, Senior Editor at Financial Sense, about the latest developments and trends in the biometric sector concerning the financial service technology. You can listen to full interview here. The 30 minute discussion focused on the campaigns by Microsoft and Google to eliminate

National Stock Exchange of India expands use of two-factor authentication

The National Stock Exchange of India (NSE) has implemented a two-factor authentication for users of e-IPOs web-based application to increase security measures for investors, according to a report by Economic Times. The NSE initially launched its new electronic Initial Public Offers or e-IPO bidding system in January. The system has the facility of web-based log-in via the internet, offline bid entry post market hours, download facility of orders and order history, and other functions. “In order to enhance the security

Biometrics in Banking & Financial Services Summit

The Biometrics in Banking & Financial Services Summit June 27-29 | Manhattan NYC The Biometrics in Banking & Financial Services Summit will bring together banks and financial institutions at the forefront of biometrics to address the emerging challenges regarding the adoption of biometrics in their existing systems and the integration of these technologies into mobile devices, online service applications, ATM machines, and more, in order to ensure customer satisfaction and enhance security through cutting-edge technology. What you can expect! •