Article, ID+, Financial Inclusion

Why Credit Isn’t Working For Financial Inclusion

Posted by PYMNTS on May 10, 2016

Acquiring that financial health means financial institutions are able to not only know, but accurately identify, their customers.

But for many financial institutions, the use of credit as a determining factor on whether to provide access to banking products or not transforms the decision from one based on identity to one based on credit – a choice that can subsequently lock millions out of the financial world.


The Two Faces Of Digital Identity Authentication

Posted by PYMNTS on Apr 20, 2016

There are two primary concerns in the payments industry’s quest to achieve effective security and fraud protection: businesses’ own data, and the digital identity of consumers. Sunil Madhu, Founder and CEO of Socure, discusses with MPD CEO Karen Webster a methodology that can address both of those factors with equal effectiveness.


The Payments World Really Wants To Know Who You Are

Posted by TechCrunch on Oct 11, 2015


In the early 1960s, Scottish engineer James Goodfellow was given a problem to solve. A colleague had invented a way to insert a card into a machine and get money out. Goodfellow’s task was to figure out a way to ensure that only the card’s legitimate owner could use these new “ATM” machines to obtain cash. So he created the personal identification number, what we call the PIN, the most secure implementation of card access the world had ever seen. Goodfellow was awarded the patent on the PIN and, later, Queen Elizabeth II awarded him the Order of the British Empire.

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Dominant Theme at Finovate: Authentication Needs Fixing

Posted by American Banker on Sep 17, 2015

If the identity management system is broken, it's not for lack of vendors offering solutions.


Banks have been on a mission to find the right technology to verify mobile and online customers in a way that is highly secure, yet "frictionless" (quick and painless for the consumer). Many banks have rolled out voice, fingerprint, iris, and facial recognition software during the past year. Time will tell whether any of these prove to be the answer. But solutions are needed more than ever, given the rise of mobile banking and the amount of personally identifiable information that's been stolen or is openly available on the Internet for fraudsters.

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