In the ever-evolving financial realm, credit unions are experiencing a notable surge in membership, indicating a shift in consumer preferences towards a holistic banking experience. This encompasses not only competitive loan rates but also factors such as convenience, security and personalized service. Credit unions, serving as pillars of trust and reliability within their communities, face…
Face ID was added to most smartphones in 2017. The revolutionary technology largely replaced iPhones’ TouchID software and added an extra layer of security to Apple smartphone devices. The two-layer security combination of Face ID and Passcode keeps iPhones more secure than traditional facial recognition done by a simple 2D front-facing camera. But Face ID…
It’s been two years since 4Stop was acquired by Jumio, and as the former 4Stop CEO, I’m happy to say that this has been one of the best experiences of my career. 2022 was a big year for acquiring data orchestration hubs like 4Stop, as everyone realized the importance of orchestration to their business strategy….
Deepfakes are causing massive disruption across industries and are threatening companies’ security, reputation and bottom line. Every day there are new reports of criminals breaking through online security protocols and defrauding businesses and their customers around the world. InfoSec and IT departments are scrambling to put better policies and systems in place to prevent deepfakes….
One of Jumio’s strengths is that we provide various channels for integrating the identity verification journey into your onboarding workflow: a Web Client, Web SDK, Mobile SDKs and REST APIs. Each channel has unique advantages, and you can leverage one or more channels as needed. Fraudsters are becoming more and more sophisticated, and no solution…
In 2023, we witnessed the widespread adoption of AI tools such as ChatGPT, Dall-E, and Bard. However, along with the positive advancements, there were also negative aspects, particularly in the realm of fraud. To gain a better understanding of how AI is shaping the future of fraud prevention, The Fintech Times recently hosted a webinar….
Preventing minors from accessing age-restricted products, services or content is a major challenge in today’s digital-first world. While traditional age gates (popups or forms that ask website visitors to enter their date of birth) can deter some minors from visiting restricted websites, they don’t do enough to block access completely. These types of age verification…
Hackers are more sophisticated than ever. To keep customer data safe and secure, financial institutions need a customer authentication system that keeps them one step ahead. Both knowledge-based authentication (KBA) and biometrics can help protect sensitive customer information, but which offers better, more reliable data security? And with growing security risks, is one authentication method…
Finance and banking are among the most regulated industries in the U.S., and it can be difficult to keep all the requirements straight. As part of Know Your Customer (KYC) and Anti-money Laundering (AML) compliance, financial institutions are required to verify customer identities through a Customer Identification Program (CIP). CIPs became a legal requirement with…
Customer requirements are transcending traditional know your customer (KYC) use cases, with identity verification now encompassing a broader range of applications in marketplaces, workforces and security. Gartner predicts that by 2027, the global demand for individual identity verification point tools will decrease by 20% due to the increasing need for all-in-one digital identity platforms. As…