Latin America. HID Global, a global leader in identity security solutions, continues its campaign to help financial institutions secure their online banking services, which nearly half of all customers prefer for convenience to access their accounts.
Through its advanced Identity Assurance portfolio and channel partner initiatives, the company is driving the adoption of layered authentication as part of a cost-effective security strategy, to protect mobile and online transactions from anywhere and from any computer.
"The explosive growth of online banking services has attracted more sophisticated fraudulent attacks and increased regulatory oversight, making it critical to move users from a simple, static password system to strong, adaptable authentication that ensures only authorized individuals will be able to access accounts and without affecting this convenient online practice." said Christy Serrato of Solutions Marketing for the Identity Assurance division at HID Global. "We are serving an accelerating demand for integrated, risk-based solutions that enable banks to have bespoke authentication options for a wide variety of customers using their mobile and online services."
One of HID Global's key areas of focus is to make it easier for financial institutions to understand and interact with ActivID authentication solutions. In its technology analysis of the retail, banking and card practice, CEB TowerGroup awarded HID Global with the highest level of customer engagement, highlighting that its authentication factors, the broadest in the market, offer a consistent experience across service channels and its self-service capabilities for customers offer intuitive credential management.
"By combining customer engagement functionality with malware detection capabilities, HID provides authentication that is both functional and forward-thinking," said Jason Malo, research director of retail, banking and credentials at CBE TowerGroup. "The solutions' ability to support external credential authentication provides flexibility for companies that have different deployments or multiple legacy systems."
HID Global has also expanded and strengthened its partnerships in the banking sector through its Identity Assurance Technology Associates Program, which fosters a commitment to developing solutions for a deeper collaborative solution. Partners such as Temenos are participating in the program to increase layered authentication capabilities based on HID Global's ActivID equipment and Threat Detection services for highly flexible mobile and Internet banking solutions.
This and other partners play a key role in meeting customer needs and increasing demand for the next generation of online financial services security. CEB TowerGroup estimates that online transactions will grow by multiples of 1.5 between 2009 and 2013 and mobile transactions will grow 10-fold over the same period.
HID Global's ActivID offers authentication through the five-layer promotion to enable secure online transactions: strong user authentication; advanced computer authentication; browsing protection against malware; transaction-level authentication with intelligence-based patterns; and strengthening of applications.
This multi-layered approach allows institutions convenient protection against online fraud and security for access to online services and cloud-based applications. HID Global's unified approach is delivered through an integrated authentication platform, allowing organizations to easily manage credentials across a broad level of users or computers, while offering adequate protection to combat the latest concerns facing financial institutions globally.
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