Move over, The Chainsmokers. There’s a new #selfie game in town. Following limited tryouts in the U.S., Canada and the Netherlands, MasterCard has released Identity Check Mobile in 12 European countries and plans to expand into the United States in the coming year. The new biometric service, more popularly known as selfie pay, allows users […]
The July 2016 issue of Consulting Insights is now available! Our feature article shares some of the key findings from our study The Innovation Advantage on the applications of biometric authentication technologies for financial services. We explore the latest trends in mobile finance innovation, discuss how to effectively market to active traders and assess how financial firms are using Facebook, particularly for customer service. Finally, we summarize findings from our whitepaper The Looming Problems with Retirement Planners, which discusses key factors that cause variations in retirement calculators' income projections.
As we constantly hover over mobile devices, we’ve become practically immune to the onslaught of advertisements that cloud our screens while we browse the internet. But take a second glance. The most prominent and unnerving ads are those that suspiciously highlight products and events that users have just recently searched for online – the tracking method behind these ads are known as super cookies.
- Cyber Security
Most bank and credit card firms offer standard online security centers with fairly similar features across the board, making few changes to the pages throughout the year. This month, PNC Bank, USAA and Ally Bank are trying something new to engage users in the cyber security conversation, as October is National Cyber Security Awareness month. […]
Payment card fraud is an issue that concerns financial firms, business, and customers alike. According to an article from Fidelity National Information Services, payment card fraud could reach $10 billion or more in 2015, and a survey conducted by KRC Research in 2014 found that the majority of respondents were more likely to be concerned […]
With cyber attacks making headlines across all sectors in 2014, perhaps few industries have as much to lose from a customer privacy perspective as health care, and at the end of January, Anthem became the first high profile victim of 2015. Hackers obtained data on tens of millions of current and former Anthem customers in […]
In today’s business world, all CEOs fear seeing their company’s name in the headlines as a victim in the latest cyber-attack. Financial firms nationwide are constantly searching for new ways to prevent intruders from infiltrating their systems. In the past year, several firms within Corporate Insight’s e-Monitor group introduced new security features. UBS and Vanguard, […]
With the rise of Apple’s Touch ID technology, as well as fingerprint identification software available on other mobile devices, personal security measures are becoming ever stricter.
Slovakian Tatra Bank is the most recent financial institution to join Barclays Bank and USAA Bank in offering a voice biometric system to authenticate users’ identities. Biometrics – the process of identifying a person by physiological characteristics or behavioral traits – is by no means a new concept, but it recently regained the public spotlight with the release of Apple’s Touch ID on the new iPhone 5S. Financial institutions and ecommerce businesses alike have struggled for years to find a way to authenticate customers’ identities that is not only secure and reliable, but also convenient and easy to use. Although vulnerabilities with Apple’s Touch ID were exposed just the day after the iPhone 5S launched, many technology experts still view biometrics as the key to unlocking this user authentication paradox.
Most financial services firms treat the mobile channel as a limited version of their website but still keep security consistent, from the login process to back-end encryption and monitoring. However, a few firms offer alternatives to logging in as usual every time clients access their apps. The most recent examples both come from Discover.