For the financial services industry, having a secure but user-friendly authentication process is no longer a nice-to-have, but a necessity. verifying that someone is who he says he is (and not someone who has stolen that identity). The first step in ensuring security is authentication, i.e. Today the yearly cost for online identity fraud is estimated to be more than a trillion dollars. Such breaches do not only result in financial loss, but damage considerably the customers and the bank, as financial data is some of the most sensitive information stored on the Internet. Malware, phishing, social engineering and fraud attacks are increasing year after year, new mobile technology attack methods such mobile spoofing and cloning are being used more and more and every day a security breach occurs in the financial services sector. Security is essential in this story, but ensuring security is easier said than done, given that the financial services sector is the biggest target of cybercriminals in recent years (in the UK payment and financial services account for about 75% of the cyber-attacks). This means customers should be confident that their transactions will be correctly executed and that their financial information is safe with their bank. At the same time the financial services sector should be careful not to jeopardize the trust of its customers. These rapid evolutions force banks to deliver quickly new innovative and compelling financial services, with an excellent and frictionless user experience. IoT), increased competition of FinTech players… The financial services sector is evolving rapidly: increasing and changing customer expectations, a radical shift towards digital channels (mobile), a tsunami of new regulations (PSD2, GDPR, MiFID2, Dodd-Frank act… ), new technological evolutions (e.g.
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