Tag Archives: biometrics

Biometrics Will Be Standard on Smart Mobile Devices by 2020

This summer, Acuity Market Intelligence, an emerging technology strategy and research consultancy, released its forecasts for the mobile biometrics market. According to the group:

  •  Annual revenues from biometrics embedded in smart mobile devices, biometric app downloads, and biometric authentication of transactions will grow from $1.6 billion in 2014 to $34.6 billion in 2020 representing a CAGR of nearly 67% with total forecast period revenues exceeding $117 billion.
  • With an installed base of 4.8 billion, more than 89% of all smart mobile devices in use will be biometrically enabled.
  • More than 5.5 billion biometric apps will be downloaded annually, and more than 800 billion transactions that require some level of biometric authentication will be processed on mobile devices each year.

Maxine Most, Acuity Market Intelligence Principal and lead analyst and a biometric identity expert, commented:

“Today’s mobile biometrics are primarily a convenience factor providing an easy pin alternative for device, application, and account access, as well as mobile payment authorization. By 2017, hardened biometric security on mobile devices will begin in earnest and we will see a genuine transformation in identity and commerce and the true end of ‘the password as we know it.’ The potential for consumer use of mobile biometrics and the associated revenue potential is magnitudes greater than any previous application of biometrics. This massive, globally available platform will provide an unprecedented opportunity for sustained sensor, software and app based revenue as well as enormous potential for biometric authentication services for high-risk and high-value transactions.”

Preview Acuity’s “The Global Biometrics and Mobility Report: The Convergence of Commerce and Privacy” here.

To learn more about Enacomm’s biometric authentication technology that protects mobile transactions and more, visit our products page.

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Enacomm CEO’s Expert Article on Multifactor Authentication Featured by PaymentsSource

PaymentsSourceA new guest article from Enacomm CEO Mike Boukadakis was featured by PaymentsSource this week with a top spot on the publication’s homepage. In the piece, Mike shares expert insight on a trend shaping the payments landscape: biometric authentication.

Mike’s contribution for what the publication calls its PayThink series is titled, “Voice Authentication Beats Fingerprint Biometrics for Data Protection” and speaks to the importance of multifactor authentication, similar to we’ve seen on the big screen in movies like Mission: Impossible.

In Mission: Impossible, extensive security measures are employed to safeguard the Government Non-Official Cover (NOC) list in the vault at the Central Intelligence Agency’s (CIA) headquarters in Langley, Virginia. First, a voiceprint is utilized to positively identify the only person allowed inside the secured vault. Subsequently, the person seeking access is required to enter a 6-digit code in order to enter the outer room. Next up? An eye-retinal scan. Then, to deactivate the security measures, a double electronic keycard is used – and that’s all before stepping foot inside the vault. Once inside, there are three security systems armed: one that is sound-sensitive, one that is temperature-sensitive, and one that is pressure-sensitive. If someone whispers, raises the temperature just a single degree with body heat, or sweats a drop, the alarm would be set off and an automatic lockdown would be triggered.

Mike explains in the piece:

“While the average consumer’s banking information may not be considered as highly-sensitive as the NOC list, multi-layer authentication is still the best way to fend off fraudsters. And biometrics security technology like voiceprint identification isn’t reserved for the CIA.”

Mike goes on to note that biometrics can be combined with advanced Knowledge-Based Authentication (KBA) as part of an onboarding and authentication system. Voice biometrics, in particular, is a dependable method of identification – even more reliable than fingerprinting with a 99.99 percent success rate – that is perfect for multi-layered authentication systems.

“Government intelligence agencies worldwide rely on voice biometrics security technology, and issuers can, too,” Mike says in the op-ed. “While PINs and other authentication data can be breached, someone’s voice cannot be compromised or stolen.”

Voice biometrics technology can be programmed to ask for words, numbers and phrases in random order, making “replays” and stolen voice prints useless. This means that voice recordings cannot be used to gain unauthorized account access.

“While the series of security checks need not be as extensive as those in Tom Cruise’s secret agent series, it’s important that financial institutions and card companies deploy multiple lines of defense,” Mike emphasizes. “KBA for customer identification is another key component of the fraud prevention system.”

The next-generation KBA technology that Enacomm offers helps organizations authenticate customers to onboard and activate their accounts in real-time via their mobile devices. This “out-of-wallet” security check is particularly vital to the prepaid credit card industry. From the article:

“When a prepaid or cash card is purchased in-store, the customer often wants to cash load and use the card immediately; delays lead to loss of customer interest and failed activations. KBA enables card companies to verify personal information and authenticate identities on-the-spot. The customer can use his or her mobile device to activate and cash load the card immediately. Plus, the authentication process can take place in real-time without the costly interaction of speaking with a live customer service representative or using IVR minutes.”

Voice biometrics backed by modern KBA protects financial institutions, card companies and their customers against brute force attacks, credential sharing, hacking, Phishing, Vhishing, credential resets, Internet searches and social engineering.

To learn more about Enacomm Voice Authentication (EVA) and eKBA, give us a call at 1-877-860-0025 or send an email to sales@enacomm.net.

Enacomm’s David Anderson to Share Expert Knowledge on Payments Security at The Prepaid Press Expo

David Anderson - high resPrepaid providers and their customers are prime targets for modern banking bandits. One week from today, David W. Anderson, vice president & chief marketing officer of Enacomm, Inc., will share his expert knowledge on “Securing the Mobile and Digital Prepaid World” at the 2015 Prepaid Press Expo. The event will be held at Planet Hollywood in Las Vegas, from Tuesday, August 11th through Thursday, August 13th. The theme of the 2015 conference will be “The New Face of Prepaid: Mobile Wallets, Alternative Banking and Telecom Mix it Up”.

David will speak on Wednesday, August 12th from 2:00-3:00pm PT as part of the Financial Mobility Summit. His session will focus on how prepaid providers, gift card companies and alternative financial services firms can protect their customers’ transactions. Nate Moshkovich, executive vice president of ClearLine Mobile, will join Anderson for a discussion that will be moderated by T. Jack Williams, President of Paymentcard Services.

“The role of prepaid in the world of personal banking is ever-increasing, and so is the sophistication of white-collar criminals with this segment on their radar,” said Anderson. “Older, static security methods like pins and passwords are no longer sufficient for fraud prevention and should be traded in for a layered, dynamic approach.”

Enacomm is a leading provider of intelligent customer interactions solutions and security technology that utilizes biometrics and Knowledge-Based Authentication (KBA). With a 99.99% success rate, Enacomm Voice Authentication™ (EVA) harnesses voice biometric technology to enable reliable log-in and transactional authentication of customers from any phone, any time. Enacomm’s eKBA uses leading-edge knowledge-based authentication databases and techniques for customer identity verification and can integrate biometrics technology into the authentication process.

To stop fraudsters’ attempts to rip off your organization and customers, contact the Enacomm team at sales@enacomm.net or 1-877-860-0025.

What’s the Best Form of Biometric Security for Banks?

Biometric Update logoWriting for Biometric Update – the leading online source for breaking news, analysis, and research about the global biometrics industry – Enacomm CMO David Anderson explains in an expert guest article why voice biometrics technology may be a better choice for banking security than fingerprint or facial recognition. In the piece, “All forms of biometric authentication are not created equal,” Anderson notes that biometrics security technology is now being more widely used thanks to the proliferation of smartphones with high-quality microphones and cameras that make the process easy. While ease is a priority when choosing between biometric identification methods, he says, effectiveness is just as important.

Touch biometrics is often one of the least reliable forms of biometric authentication, as fingerprint scanners can be easily duped. From the article:

For the pros, making fingerprint dummies is relatively easy. Tsutomu Matsumoto, a security researcher at Yokohama National University, created a way to fool biometric scanners 80 percent of the time by taking a photograph of a fingerprint left on a wine glass, for example, and re-casting it in molded gelatin. Nine out of 10 fingerprint readers can even by tricked by manipulated Play-Doh from your local department store, as proven by hackers. What’s more, it’s possible for cyber-criminals to intercept fingerprint data from Internet-enabled biometric scanners as it’s sent to the computer server for processing.

More reliable than touch, facial recognition has close to a 98 percent success rate. However, fraudsters have been able to find cracks in the technology. According to Anderson:

In recent years, facial recognition technology has greatly improved its accuracy and is nearing a 98 percent success rate. Discovered methods of deception, user error and the fact that facial scanning can be faulty in direct sunlight make up the two percent gap. Hackers have been able to reverse engineer the biometric information stored in (not-so-)secure databases to print photos that dupe most face scanners. Security researchers at companies like MasterCard and USAA believe blinking is the best way to prevent a fraudster from holding up a picture of the individual being impersonated to fool the system.

More accurate than fingerprint or facial recognition, voice authentication has a 99.99 percent success rate. According to Anderson, it should be a top security choice for financial institutions, particularly when it comes to important, high-dollar transactions. From the piece:

A voice print is a sophisticated model against which future voice utterances are compared, using complex algorithmic processing. There is no physical “voice” or sound recorded on the computer. One cannot reverse engineer a voice biometric template or print to create a spoken voice.

Anderson goes on to emphasize that, “Because there is no single, perfect solution, it is recommended that multiple verification methods be employed by financial institutions.”

Click here to read the full article on Biometric Update’s website. To learn more about Enacomm Voice Authentication (EVA), go here.

Freedom and Security in Cyberspace with Multi-Factor Authentication

Today, with nearly every aspect of Americans’ everyday lives tied to the Internet, online security has never been more important to protecting our freedoms. When it comes to personal banking, Mercator Advisory Group reports that 86% of U.S. adults now manage their bank accounts electronically. However, only half of smartphone owners with a bank account did at least one mobile banking transaction last year, according to a report from RateWatch. Nearly two-thirds of those who did not use mobile banking cited security concerns, and RateWatch contends that mobile banking will only increase if those concerns are addressed. When it comes to banking transactions, passwords are not enough – and The White House agrees.

Earlier this year, the federal government released a Fact Sheet tied to its Summit on Cybersecurity and Consumer Protection. From the release:

“As a nation, the United States has become highly digitally dependent…But this dependency also creates risks that threaten national security, private enterprises and individual rights. It is a threat not just here in the United States, but one that everyone, everywhere who is connected to cyberspace faces.”

President Obama has been committed to strengthening our country’s cybersecurity since he first took office, but cyber threats “have grown more diffuse, acute, and destructive”. Fraudsters take advantage of the reach and anonymity that cyberspace presents.

Banks are top targets for cybercriminals. Multi-factor authentication, which means that a user’s identity is verified for a transaction or login using more than one method of authentication, is critical to protecting financial institutions and their customers. Enacomm offers new authentication technology that does not rely solely on a password, but instead employs Knowledge-Based Authentication (KBA) and biometrics. Enacomm’s mobile eKBA uses a layered, dynamic approach – versus older static methods – and integrates fraud detection, validation and authentication into a single process, while Enacomm Voice Authentication (EVA) authenticates and protects customers using voice biometrics with a 99.99 percent success rate.

Combining KBA with biometrics creates a robust defense against fraudsters. Enacomm’s security technology for financial institutions is compliant with FFIEC guidance, the federal Fair Credit Reporting Act, the USA Patriot Act, and the Gramm-Leach-Bliley Act, and it’s aligned with The White House’s new Cybersecurity and Consumer Protection Initiative.

To learn more, reach out to the Enacomm team at 1-877-860-0025 or sales@enacomm.net.

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Enacomm CEO Writes Expert Article for Paybefore: “5 Ways to Make Prepaid Card Onboarding Less Painful for Consumers”

In a new expert article for Paybefore, the leading provider of information to the prepaid, mobile and emerging payments industry, Founder & CEO of Enacomm Mike Boukadakis shares five keys to keep in mind to make the authentication process a positive experience for prepaid consumers:

1. Lose the in-store lag time

Customers want to be able to load and use prepaid cards immediately when they buy them in-store. The need to verify personal information and authenticate consumers’ identities before a reloadable personalized card—with higher load limits—can be mailed, causes days or even weeks of delays, resulting in loss of customer interest and failed activations. Mailing cards is also expensive. A large portion of an organization’s investment is wasted due to activation lag or abandonment. With a rapid onboarding solution, cardholders can be authenticated with accounts activated and ready to reload cash in minutes.

2. Mobilize account activation

Next-generation Knowledge-Based Authentication (KBA) enables organizations to authenticate customers via their mobile phones and activate their accounts in real time. A customer can use his or her mobile device to activate immediately and load additional cash on the card without leaving the store. Plus, a prepaid card company, for example, can authenticate the customer on-the-spot, without using the IVR or the costly interaction of a customer service representative speaking live with the consumer. Engaging customers in their “mobile moment” with an activation and authentication service is more comfortable and convenient for many customers.

3. Use a customer-friendly interface

Research and anecdotal evidence suggest many customers avoid calling an IVR or interacting with an agent for activation and authentication and would prefer to be helped through the process by a pleasant avatar. Alternatively, they can authenticate by landline or the Web. Using a customer-friendly interface, next-generation KBA guides cardholders through authentication using leading-edge techniques that draw on credit and non-credit databases. With the significant rise in wireless usage, mobile KBA meets the wants and needs of consumers.

4. Make the process quick and easy

The fast pace of society and business calls for quick, reliable mobile authentication. Using a layered, dynamic approach versus older static methods, new KBA technology integrates fraud detection, validation and authentication into a single process. Customers can simply tap a link, then click a few buttons and authentication will be complete.

5. Avoid intrusive requests

Financial institutions are required to positively identify and authenticate their customers—but the process shouldn’t be akin to the Spanish Inquisition. A brief explanation prior to conducting KBA—both the explanation and KBA can be automated—will put the cardholder’s mind at ease. Instead of human agents making customers feel like they’re in the hot seat with challenge questions, automated KBA asks for limited personal information and then presents questions that can easily be answered by the true user. Information, such as a Social Security number or ZIP code, can be entered using many types of mobile devices. A variety of questions, which are dynamic in nature, change with each customer’s access. Today’s KBA technology asks customers a series of multiple choice questions, and if the customers do not answer all of the questions correctly, additional questions will be posed or a call can be placed for further verification.

Enacomm offers multilayered authentication for financial institutions that combines advanced KBA with biometric technology. To learn more about Enacomm’s eKBA, click here. And for information on Enacomm Voice Authentication (EVA), which harnesses voice biometrics, go here.

Head on over to Paybefore to read Boukadakis’ full guest article, “5 Ways to Make Prepaid Card Onboarding Less Painful for Consumers.”

Enacomm’s David Anderson Gives Talk on Voice Biometric Authentication at CARTES AMERICA 2015

CARTESFraud, identity theft and security breaches are increasing, underscoring the need for better defense against these attacks. Today at CARTES SECURE CONNEXIONS AMERICA 2015, David W. Anderson, Vice President & Chief Marketing Officer of Enacomm, Inc., will present on voice biometrics, a proven method of identification that is perfect for multi-layered authentication systems.

CARTES AMERICA 2015 is taking place at the Walter E. Washington Convention Center in Washington, D.C. for its 4th edition. As the global event for Payment, Identification & Mobility, CARTES encompasses the whole value-chain of the smart card industry, innovative payment solutions, digital security and identification.

Anderson will speak today from 4:00-4:30pm as part of the conference track, “Biometrics: Assured Identity in a Mobile World!” His talk will focus on voice authentication, which offers better defense against fraud than PINs or static security questions.

“One of the best weapons against fraud could be your customers’ voices,” said Anderson. “Customers prefer voice biometrics to other authentication methods, because it’s quick and easy to use, with no password to remember or lose. For financial institutions, it saves dollars by saving customer service reps’ time, eliminating the need for account verification or identification questions to be presented by an agent.”

Enacomm Voice Authentication™ (EVA) harnesses voice biometrics technology and enables reliable log-in and transactional authentication of customers from any phone, any time. To see a short video on EVA, click here.

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Enacomm CMO to Speak on Improving the Mobile, Multichannel Customer Experience at VBC New York 2015

Enacomm will join Opus Research for VBC New York 2015 (Voice Security & Authentication Conference) next week. At the event, Vice President & Chief Marketing Officer of Enacomm David W. Anderson will speak on the role of voice biometrics authentication in creating simple, secure customer communications channels.

On May 4-5, 2015, VBC New York will bring  together leaders who are integrating voice into multi-layered and multi-factor communications for authentication and security. The event will showcase an array of technologies that support trusted communications over the web, mobile phones and tablets. A focus of the conference will be voice biometrics in conjunction with other technologies that lower the incidence and impact of phone-based fraud while making the world safe for mobile commerce, transaction authentication and cloud computing.

The VBC session during which Anderson will speak is titled, “Improving the Mobile-First, Multichannel Customer Experience.” Anderson will join a lineup of customer experience (CX) executives to tackle the pressing issues for creating simple, secure communications lines with customers. The panel will take place from 10:00 AM – 10:45 AM ET on Tuesday, May 5.

“Voice biometrics are more reliable than fingerprinting and more customer-friendly than static security questions and passwords, with nothing for customers to remember or lose,” said Anderson. “Voice biometrics authentication cuts costs, saving 20 percent
or more of customer service reps’ valuable time, while providing a superior service experience.”

Enacomm Voice Authentication™ (EVA) is an application that enables reliable log-in and transactional authentication of customers from any phone, any time. To watch a short video on EVA, click here.

For updates on Enacomm’s presence at VBC New York 2015, follow @Enacomm on Twitter.

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Enacomm Voice Authentication Fights Phishing Flagged by Akamai in New Report

This week Akamai Technologies released its Q4 2014 State of the Internet Report . Section 1 of the report focuses on security and details escalating, advanced attacks. Phishing, for instance, is a form of fraud that involves defrauding an online account holder of financial information by posing as a legitimate company.

To help prevent fraudsters from compromising online banking accounts and, for example, wiring a victim’s funds to a third-party account, the report emphasizes user awareness. An excerpt:

Because end users are the target of these attacks, training and education are needed to help them identify suspected phishing attacks…Users should not respond to e-mail requests with sensitive information and should contact their financial institutions with questions about suspicious banking emails. It’s a good idea to browse directly to a financial institution instead of clicking a link.

Banks, credit unions and prepaid companies can help thwart online account break-ins and wrongful transactions, too. Enacomm Voice Authentication (EVA) utilizes voice biometrics technology to protect financial institutions, customers and members, fulfilling Federal Financial Institutions Examination Council (FFIEC) guidance. Click here to learn more. Enacomm’s team is available to help with questions about EVA – call 1-877-860-0025 or email sales@enacomm.net.

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Enacomm CEO Mike Boukadakis on the Shortcomings of the EMV Chip

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FindBiometrics this week published a new guest article by Enacomm CEO Mike Boukadakis, “EMV Chip Card Technology Leaves the Job Undone.” In the intro for the piece, Boukadakis notes that, according to the Aite Group, 70 percent of US credit cards and 41 percent of US debit cards will be EMV chip-enabled by the end of 2015. But he goes on to explain:

Embedded computer chips make EMV cards far more difficult to clone, yet it is important to understand that financial institutions, retailers and consumers will still be left vulnerable, because counterfeit cards only account for about 37 percent of credit card fraud, and card fraud itself is just one piece of the larger fraud pie.

EMV chip cards will impede fraudsters’ efforts to produce counterfeit cards, but these payment methods can still end up in the hands of the wrong person if lost or stolen and will do little to thwart card-not-present threats. Additionally, as Boukadakis points out, “fraudsters break into online bank accounts and hijack high-risk transactions” – no card needed.

So, how can banks, credit unions and prepaid companies help finish the job in the fight against fraud? Voice biometrics.

Boukadakis notes that Federal Financial Institutions Examination Council (FFIEC) guidance recommends and sometimes mandates the use of multi-layered, dynamic forms of customer authentication, versus archaic, static methods. “Voice biometrics…is a proven method of identification that is perfect for multi-layered authentication systems,” he says.

Used by government intelligence agencies worldwide, voice biometrics technology is even more reliable than fingerprinting. By conducting sophisticated analysis of hundreds of voice characteristics, a bank, credit union or prepaid company can accurately identify and authenticate a customer in real-time.

Fraud, identity theft and security breaches have increasingly infiltrated America. Fraudsters stole $18 billion from consumers in 2013, according to Javelin Strategy & Research. To learn more about how banks, credit unions and prepaid companies can easily deploy voice biometrics authentication technology now to fight fraud, read Boukadakis’ entire article here, and contact the Enacomm team with a call (877-860-0025) or email (sales@enacomm.net).