Security Dealer & Integrator

FEB 2018

Find news and information for the executive corporate security director, CSO, facility manager and assets protection manager on issues of policy, products, incidents, risk management, threat assessments and preparedness.

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46 Security Dealer & Integrator / www.SecurityInfoWatch.com February 2018 T here has been unprec- edented change in today's banking eco- system: End-users are asking for more digital services, especially those they can access using their mobile devices; Fraud is increasing and becoming more complex across online, mobile, call center, ATM and other channels; Regulations are tightening worldwide; and new financial technology com- petitors, or fintechs, are entering the market, leveraging the banks' infra- structure to offer innovative services to their customers. Aer having navigated in relatively quiet waters for the last 20 years, banks now must reinvent themselves and be equally innovative in how they solve multiple challenges. is, of course, represents a profound opportunity for security integrators, who can help banks to address these challenges – showing them how to use trusted identities to pursue new opportunities, become more competitive and build more sustainable business strategies for the future. Banks will also need integrators' help to become more creative in how they deliver current services and pro- pose new ones – and to ensure these services are secure so that their cus- tomers will trust and adopt them. Most importantly, banks must become Identity Management for Banks How security integrators can bring game-changing technologies to financial institutions By Olivier Thirion de Briel Market Focus more customer-driven, and this is where integrators can be particularly helpful, drawing on their experience working with many types of institu- tions and organizations to deliver a seamless user experience. Banks are under pressure to serve more demanding customers in an increasingly competitive environ- ment while dealing with growing fraud threats and complying with an expanding range of regulatory require- ments. Integrators can help them navigate these challenges as they work together to build trusted solutions that simplify transactions and empower consumers and organizations who provide B2B customer authentica- tion services to better protect financial information, reduce fraud and increase peace of mind. Today's Banks Need Biometrics As the world becomes more and more connected, today's increasingly mobile bank customers need better ways to authenticate and identify themselves. ese customers are already able to start their cars, order a new bottle of milk from the fridge and watch over their baby using their smartphone. ese and other new usage mod- els are driving demand for secure and trusted connected services, and banks need to meet this demand. ey need to think mobile and include all the associated geolocation, mobile biometry, "always on" and other related functionality. Many banks are already heading in this direction, using today's digital identity transformation to help drive consistency across multiple service channels – thus improving the user experience. Banks are also facing pres- sure to secure their new services and solutions so customers trust them. With the challenge to substantially improve the customer experience without sacrificing trust and security, an important way to accomplish this is by using biometrics. By better associat- ing a user's true identity with his or her digital identities, this approach delivers the convenience necessary for driv- ing customer loyalty and acquisition while also supporting multiple strong authentication methods to reduce fraud across channels. Today's biometrics solutions can be compared to the security improvement brought by EMV for the PIN – EMV

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