Tag Archives: card security

Enacomm CEO Mike Boukadakis at APEX 2015

Enacomm Shows Off Advanced KBA and Voice Biometrics at APEX

Enacomm is traversing the map to show companies how they can protect their customers and their own organizations. This week, the team traveled to Las Vegas for the All Payments Expo to salute innovation in the payments industry. From February 23rd to February 25th, Enacomm exhibited at Booth 404, demoing its new eKBA (Enacomm Knowledge-Based Authentication) and EVA (Enacomm Voice Authentication). These products, which are particularly valuable for financial institutions and prepaid companies, enable organizations to authenticate and shield their customers from identity fraud using a combination of personal information and impenetrable voice biometrics technology. The team also gave away Microsoft Surface Pro 3 tablets at the show!

For a recap of the event in photos, check out the shots above and below. And give us a call at 1-877-860-0025 or drop us a line at sales@enacomm.net to learn more about how you can authenticate and protect your customers with next-generation technology. EVA at APEX APEX15

More Smartphones, More Biometrics Technology in the Mainstream

Last week, Cisco released its “Visual Networking Index: Global Mobile Data Traffic Forecast Update, 2014–2019”. According to the study, in 2014, smart devices and connections – those having advanced computing and multimedia capabilities with a minimum of 3G connectivity – made up 72% of wireless devices in North America that are accessing mobile networks. By 2019, that number is projected to reach 89%.

Recently, in an interview with Arlene Hauben of The Prepaid Press, Enacomm CEO Mike Boukadakis explained that, with the advent of smartphones, we should expect to see more biometrics technology being employed. “Now we have a vehicle to implement dual mode authentication,” he said. To read the full article, go here.

What does it all mean? Smart devices are making biometric authentication a reality.

Smart Devices Infographic

Biometrics and KBA Combine to Address Security Concerns

As part of an onboarding and authentication system, biometrics can be combined with advanced knowledge-based authentication to thoroughly address security concerns —for example, facial recognition by comparing a selfie with a stored photo at a records bureau.

Read Enacomm CEO Mike Boukadakis’ Paybefore guest article, “A Soon-to-Be Must-Have: Biometrics Authentication for Customer Service,” to learn more.

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The Prepaid Press Features Enacomm in Review of Technologies and Trends in Prepaid Card Security

prepaidpress logoEnacomm CEO Mike Boukadakis recently spoke with Arlene Hauben, editor at The Prepaid Press, about why this is an “exciting time for the use of security in prepaid.” Addressing how prepaid providers are responding to consumer concerns in her Technologies and Trends article, Hauben highlights which Enacomm products RushCard is utilizing to enhance card security. From the story:

RushCard will employ Enacomm’s eKBA mobilized authentication of customers. This will include caller verification methods that rely on basic information and voice biometrics technology provided by Enacomm.

In addition to putting new security measures into effect, Enacomm recently implemented its self-assisted service solution for RushCard. This solution focuses on creating intelligent customer interactions with an interactive voice response (IVR) system.

RushCard will be using ENCART, Enacomm’s Network Call Allocation Routing Tools that provide dynamic real-time load balancing among call centers for incoming calls; ViA, Enacomm’s analytics tool for call centers featuring real-time IVR and computer telephony integration reporting, monitoring and alerting; and Engage, a single, browser-based console that will allow RushCard to enhance and direct its IVR system.

In his interview with Hauben, Boukadakis explained that security systems can help prepaid be as safe as credit cards. From the write-up:

“Consumers who use prepaid want the same level of protection with prepaid cards,” said Boukadakis in an interview. “The goal in prepaid is to raise the level of comfort for the users to the same level that they have with credit or checking accounts.”

For more interesting insight, stats and trends, head on over to The Prepaid Press to read the full feature article.

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Enacomm’s Voice Biometrics Is Even More Reliable than Fingerprinting

Want a proven and reliable method of customer identification? EVA’s (Enacomm Voice Authentication™) voice biometrics system boasts a 99.99% success rate! Learn more about the technology here.

voiceprint identification - FBI meme.

Enacomm CEO Writes on Biometrics Authentication for CRMXchange and Paybefore

CRMXchange logoRemember being fascinated by iris recognition, fingerprint scanning and voice analysis in movies like Men in Black, Mission: Impossible, and Minority Report? Thanks to new advancements, biometrics technology will soon transform the customer experience, too, allowing consumers to be identified based on their unique personal attributes.

In a new guest column for CRMXchange, Enacomm CEO Michael Boukadakis points out that “fraud, identity theft and data attacks are disproportionately plaguing our nation — breaches involving U.S. entities accounted for 41.1 percent of incidents worldwide, according to Risk Based Security.” Traditional forms of account authentication, Boukadakis explains, are no match for modern forms of fraud – but biometrics authentication can thwart sophisticated schemes. In the financial space, companies can use biometrics to control who has access to personal information and card data.

According to the article:

For organizations big and small, voice authentication is now a financially and operationally feasible application of biometrics technology…A voiceprint is distinctive like a thumbprint, but rather than an impression of the lines upon a fingertip being scrutinized, a sophisticated analysis of hundreds of voice characteristics is conducted. An algorithm is applied to break up and map each unique voice identity, which is then stored in an encrypted file. An individual can then be accurately identified and authenticated in real-time by matching particular characteristics of his or her spoken words every time he or she calls.

Not only will there be a significant increase in the adoption of biometrics to safeguard financial transactions, but the technology will also be used to improve everyday events such as turning on lights, starting a car, or buying coffee at Starbucks.

paybefore logoBoukadakis also recently penned a guest article for Paybefore, titled “A Soon-to-Be Must-Have: Biometrics Authentication for Customer Service.” Capturing the identity fraud crisis in numbers, the piece states:

There were more than 12 million identity fraud victims in 2012, and fraudsters stole nearly $21 billion, according to Javelin Strategy & Research. This is about one victim every 3 seconds. Large data breaches provide account and personal information to fraudsters, who then use it to access individuals’ accounts. America leads the world in the number of payment card accounts, including prepaid, that have been breached. Business Insider reports that payment card breaches cost card issuers $3.4 billion in 2012 and merchants another $1.9 billion.

Boukadakis observes that “voice biometrics technology has improved along with the underlying communications channels, reducing the cost of a single authentication to pennies per instance. Compare this to the cost for a customer service representative to authenticate a customer, which could easily be $2.”

As part of an onboarding and authentication system, biometrics can be combined with advanced knowledge-based authentication. Voice biometrics authentication, in particular, is incredibly reliable and shouldn’t be compared or confused with voice recognition. A voiceprint is distinctive like a thumbprint, but even more reliable than fingerprinting with a 99.99 percent success rate. Of interest, fingerprinting can provide misleading results due to contextual bias. Making his case, Boukadakis provides an example of the FBI mistakenly matching a partial fingerprint found on a bag of detonators linked to the March 2004 terrorist bombings in Madrid to Oregon lawyer Brandon Mayfield.

How are customers authenticated with voice biometrics? Using inbound or outbound calling, texts, a mobile application or Web browser. And voice authentication can be integrated with new or existing interactive voice response (IVR) and call center systems. When a customer calls the IVR, he or she can authenticate in real time, or if speaking with a customer service representative (CSR), the CSR can send the customer a text message with a “talk back” link. Alternatively, the cardholder could be connected to a mobile Web browser to authenticate. Because call centers and customer service reps don’t have to repeat account verification or identification questions, 20 percent or more of their time can be saved, resulting in reduced costs and a much-improved customer service experience.

While PINs and other authentication data can be breached, customers’ voices cannot be compromised or stolen. With heightened security concerns and the need for multiple methods of authentication, voice biometrics is one of the best ways to arm your organization against fraud.

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

Enacomm Offers Answer to White House’s Card Security Concerns

The White House is bringing down the hammer on fraudsters. This month, President Obama officially nominated Loretta Lynch to be his next attorney general – and she is TOUGH on cybercrime. In fact, one of her biggest cases was the prosecution of hackers who allegedly stole $45 million from ATMs throughout 27 countries in an enormous bank heist. A federal prosecutor in New York, Lynch is responsible for expanding her office’s leading national security practice into the area of cybersecurity. When Obama announced Lynch’s nomination at the White House, he gave her kudos for “aggressively” fighting illegal activities exploiting the Internet and other computer networks.

To boot, in October President Obama signed an executive order for “Improving the Security of Consumer Financial Transactions”. The order will require all credit cards issued to government employees and used for official purchases to be armed with Chip-and-PIN technology, which is more secure than Chip-and-signature technology that most issuers and merchants are adopting in compliance with EMV mandates imposed by the major card networks.

According to CardNotPresent, the “president said he was working with companies like American Express, Home Depot, Target, Visa, Walgreen’s and Walmart to ensure private sector action making Chip-and-PIN enabled terminals available everywhere.” With data breaches making headlines in recent years, mounting public pressure already prompted many companies to get on board with the transition to EMV to protect their customers, their assets and their reputations.

In conjunction with the above, a war against identity theft is being waged. The White House is seeking to enhance IdentityTheft.gov, to improve information sharing and coordination around fraud attacks, and to put on a cybersecurity and consumer-protection summit.

The President also put in a good word for multi-factor authentication. For online security, he’s called upon the National Security Council staff, the Office of Science and Technology Policy, and OMB to come up with a plan by early 2015 “to ensure that all agencies making personal data accessible to citizens through digital applications require the use of multiple factors of authentication and an effective identity proofing process.”

Enacomm is ready to answer this call with multi-factor authentication that utilizes voice biometrics and enables mobile knowledge-based authentication (KBA) to safeguard against fraud:

  • eKBA (Enacomm Knowledge-Based Authentication) is the best mobile product available to help organizations authenticate their customers and activate their accounts in real-time. The perfect choice for fraud prevention, eKBA provides a non-intrusive, positive customer experience and is compliant with FFIEC guidance, the Federal Fair Credit Reporting Act, USA Patriot Act, and the Gramm-Leach-Bliley Act.
  • Eva’s (Enacomm Voice Authentication) voice biometrics are proven methods of identification — perfect for multi-layered authentication systems. Utilization of voice biometrics is more reliable than fingerprinting and is used by government intelligence agencies worldwide. While PINs and other authentication data can be breached, a customer’s voice cannot be compromised or stolen.

Cybercrime has relentlessly challenged consumer confidence, private sector success and government patience. To learn how Enacomm can help your organization guard against fraud, reach out to us at 1-877-860-0025 or sales@enacomm.net.

 

Kaiyan/Flickr

Kaiyan/Flickr

Let Enacomm Help Your Organization Protect against a Data Security Downfall

Just announced, Target CEO Gregg Steinhafel is resigning mere months after card numbers and personal information were stolen from as many as 110 million shoppers in one of the biggest data breaches in retail history. According to the Federal Trade Commission’s Consumer Sentinel Network Data Book 2013, identify theft is the number one consumer complaint, with credit card fraud the second most common form reported.

Leaders of organizations in all industries, of all sizes are expected to go to great lengths to ensure that cardholders’ information is protected. Data mishaps can unravel years of brand equity, not to mention the immediate hit to net income. According to Adweek, “costs associated with the [Target] cyber invasion totaled $61 million in its fiscal fourth quarter, contributing to a 46 percent decline in net income to $520 million (81 cents per share) versus $961 million ($1.47 per share) the previous year.”

One of Enacomm’s top priorities is helping its customers protect themselves against data breaches to guard against huge financial losses and uphold consumer confidence. In fact, Enacomm was recently named to MasterCard’s Compliant Service Provider List due to its extensive security program that protects cardholder data. Our organization is Payment Card Industry Data Security Standard (PCI DSS) Level 1 compliant, a measure developed by payment industry leaders to reduce security vulnerabilities in IT related processes, procedures and infrastructure.

Enacomm also offers industry-leading products and services that help combat fraud. An advanced tool that enables multi-layered, dynamic Knowledge-Based Authentication (KBA), Enacomm’s eKBA quickly and reliably validates and authenticates customers in a non-intrusive way. This “Out of Wallet Authentication” can even be accomplished in real-time via a mobile device, making it more comfortable and convenient for consumers to use.

Perhaps Gregg Steinhafel would not have felt the need to step down from his post yesterday if he had pushed for greater measures to protect the card data and personal details of shoppers. To avoid a Target-like downfall, Enacomm can help your organization guard against data vulnerability. Give us a call at 877-860-0025 to learn more about eKBA and Enacomm’s other offerings that help cut costs, increase revenues and boost customer loyalty and retention. Enacomm is bringing intelligence to customer self-service millions of times a day.

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