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! •

MPOS terminal use growing according to Juniper Research

According to a recent Juniper Research report, mobile point-of-sale (MPOS) terminals will take on a significant role in businesses, handling 40% of all retail transaction value by 2021, up from 12% in 2016. Driven by larger retailers as part of an array of point-of-sale options, the use of MPOS systems will account for more than one in three point-of-sale (POS) terminals by 2021, according to a report in IT Web. The study points out that MPOS will let retailers ‘queue

Fintech innovation lab in Tel Aviv to focus on blockchain, IoT and biometrics

Intel Corporation has selected Tel Aviv to host its latest fintech innovation lab, according to a report by Finance Magnates. The new Intel fintech innovation lab will focus on blockchain, Internet of Things (IoT) and biometrics applications and will be created with The Floor, a fintech hub located at the Tel Aviv Stock Exchange. The Floor has financial backing from Chinese venture capital fund Pando Group and partners including Banco Santander, HSBC, RBS and Intesa Sanpaolo. Intel Israel’s manager of

CrucialTec partners with smart card firm to develop biometric credit card

Fingerprint technology company CrucialTec and smart card firm Kona-I have developed a smart card fitted with a fingerprint module to improve the security of financial transactions, according to a report by The Korea Herald. Cardholders will verify their identity by scanning their fingerprints on the fingerprint module embedded in the 0.84-millimeter plastic card. According to CrucialTec, the card can be used more than 1,000 times with a full charge, but that is expected to increase when it goes into mass

Credit union leveraging Crossmatch’s strong authentication platform

In an effort to secure access to all internal applications and eliminate costly password resets, the El Paso Area Teachers Federal Credit Union (TFCU) is deploying the Crossmatch DigitalPersona Altus strong authentication solution throughout its branch locations. TFCU needed an authentication solution that eliminated the need for its employees to remember and manage multiple passwords and considered a variety of solutions, including password vaults, but chose the DigitalPersona Altus offering, which is based on non-repudiable biometric credentials. “The DigitalPersona Altus