Financial service companies sign up biometric authentication for secure remote access
HYPR, FacePhi, Entersekt and Access Softek have each signed up new partners in the financial sector for improved remote authentication with biometrics through customer’s mobile devices.
HYPR’s technology for replacing passwords with secure public-key encryption and smartphone biometrics is being adopted by Oxbury Bank, an agriculture-focussed institution, to improve security so it can focus on serving customers, according to a company announcement.
The partnership marks HYPR’s first with a UK bank, with customers using the OxP banking platform on iOS and Android devices using HYPR’s Passwordless Customer Authentication solution. The implementation is intended to speed up onboarding, while providing multi-factor authentication.
“Customers are choosing online and mobile banking over brick-and-mortar services, and it’s imperative that we provide seamless and secure access,” states Oxbury Co-Founder and Chief Customer and Regulatory Officer Tim Coates. “By removing the headaches of administration and password management, we are modernising banking, without compromising security.”
Oxbury is currently engaging with customers on an invitation-only basis, but is planning to open its services to the wider market during winter 2020, having gained its full license earlier in the year.
FacePhi biometrics secure remote salary advances in Peru
FacePhi’s SelphID software has been integrated by Peruvian fintech TuSueldoYa to provide facial recognition for verifying the identity of people applying for salary advances through its mobile app.
The application will initially serve companies and workers in Peru, where more than half of employees have had their savings capacity diminished by the impact of COVID-19, according to the announcement. Applicants can receive a portion of their salary corresponding to the days they have already worked in the month, enabling them to avoid more risky or costly means of making ends meet.
SelphID biometrics, integrated by FacePhi partner Confirma, simplifies the management process for both employees and human resources departments, with selfie biometrics compared to images in official records stores, such as the National Registry of Identification and Civil Status of Peru.
“In the current context, the integration of biometrics in the management of clients and citizens goes beyond generating a good user experience: it has a positive social impact,” says Javier Mira, CEO of FacePhi. “The use of facial recognition techniques is an important player in the digitization of services in Latin America, where it can already be found in applications for retirees to identify themselves as beneficiaries of a pension, in banking product management platforms or in a such innovative app as TuSueldoYa, which arises at a time when tools to help families improve their financial situation are more necessary than ever.”
Entersekt authentication integrated with Cellulant platform
Entersekt is integrating its mobile software development kit into Cellulant’s product stack to enhance the latter’s platform’s cybersecurity with device identity and omnichannel authentication.
The integration secures Cellulant’s digital banking channels and guards against payment fraud, according to the announcement, by making Entersekt’s authentication and app solutions available to Cellulant clients. Among them, two large banks in operating in Kenya are already working to deploy Entersekt’s technology.
“We are delighted to be partnering with Cellulant. The company works with some of the finest brands on the continent,” comments Schalk Nolte, CEO of Entersekt. “This collaboration will mean their partner banks’ end-customers can enjoy increased safety and security while transacting. We are very happy to support Cellulant’s cybersecurity efforts to drive consumer confidence in digital banking and boost the adoption of digital payments on the continent.”
Entersekt recently integrated behavioral biometrics from NuData Security into its authentication software.
“Our clients trust us to not only be constantly innovating around digital banking and payments but also to guarantee safety and security,” observes Cellulant CTO George Murage. “Being able to provide the powerful security and authentication services of Entersekt will significantly add to our platform offering. Through this partnership, we can deliver some of the most sophisticated services available anywhere in the world.”
Access Softek biometric authentication implemented by credit union
First Service Credit Union has implemented biometric authentication and other digital banking solutions from Access Softek’s suite to bring next-generation services to the credit union’s 66,000 members, the companies have announced.
The Orpheus Omnichannel Digital Banking platform, Real-Time Fraud Control, EasyVest robo-advisor, ChatBot, and Biometric Authentication Manager from Access Softek are now being utilized by First Service Credit Union, which manages $793 million in assets.
“After surveying our online banking options, we chose Access Softek because of the innovative solutions they have created for credit unions like us. Of all the partners we considered, Access Softek had the most diverse set of solutions that help us achieve our mission of putting members first,” says David Bleazard, president and CEO of First Service Credit Union. “Our implementation with Access Softek was the best we’ve experienced. It was fast and simple – so simple that even with a tight schedule, we were able to make 20 custom applications with Access Softek’s software development kit. We are thrilled with the level of ease and customization we’ve been able to achieve.”
Access Softek’s Biometric Authentication Manager verifies members’ identities with facial recognition and fingerprint biometrics in five seconds or less, the company says. The company also claims its Orpheus platform reimagines the legacy online banking experience as a contemporary environment the facilitates biometric login and other innovative capabilities for powerful and intuitive functionality.