Payments News

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Security

Banks Have a Solution for Their Identity-Fraud Woes: The DMV

“Big banks are enlisting the local DMV in their fight against identity fraud. Lenders including JPMorgan Chase & Co., Bank of America Corp. , Wells Fargo & Co. and Citigroup Inc. are looking for ways to link up with databases at state departments of motor vehicles and other government offices to make sure potential customers are who they say they are.”
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Deals

OneLogin snares $100M investment to expand identity solution into new markets

“OneLogin is not a young startup by any means. The identity access management company was founded in 2009 and has watched while companies like Ping Identity, Duo Security and Okta had tidy exits. But as CEOs are fond of pointing out, the total addressable market is large and where investors see a chance, they take it. Today, the company announced a […]
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Security

Canada urges blockchain on for digital ID dream

““We should be open to innovative identity verification methods like document review through a live video connection, use of blockchain, biometrics and other methods that have begun to see widespread adoption in other parts of the economy,” Parmenter comments. “These methods have the potential to prove a person’s identity more securely and accurately than showing […]
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Security

SKT Teams Up with Deutsche Telecom for Blockchain Identity Platform

“The nation’s top mobile carrier said blockchain-based digital identification will make the process of verifying personal information much simpler and safer. The Korean and German firms will sign a memorandum of understanding (MOU) on the sidelines of the Mobile World Congress 2019 (MWC), scheduled to kick off on Monday in Barcelona. Under the MOU, SK Telecom and […]
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Security

New Uniform Contactless ID Cards Proposed for EU

“Under the proposed new rules, identity cards will have to be produced in a uniform, credit card format (ID-1), include a machine-readable zone, and follow the minimum security standards set out by ICAO (International Civil Aviation Organisation). They will also need to include a photo and two fingerprints of the cardholder, stored in a digital […]
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On The Wires

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Security

PNC, GIACT® Launch New Identity Verification; Authentication Offering

“PNC Bank, National Association, announced today a strategic alliance with GIACT Systems®, the leader in helping companies positively identify and authenticate customers. By employing GIACT’s verification and authentication technology, PNC commercial clients will be armed with real-time fraud prevention tools to confirm an account is open, active and in good standing prior to initiating a […]
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Security

Mastercard, Microsoft Join Forces to Advance Digital Identity Innovations

“This initiative will serve as the foundation for new Mastercard services powered by Microsoft Azure and built in collaboration with leaders in the banking, mobile network operator and government communities. Microsoft and Mastercard are bringing together their respective strengths – Microsoft’s expertise in identity technology and Mastercard’s expertise in securely orchestrating digital interactions in a […]
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Security

Mastercard Introduces Consumer-Centric Model for Digital ID

“Mastercard (NYSE: MA) today introduced a vision for digital identity in today’s increasingly connected world.  A new paper, Restoring Trust in a Digital World , presents a detailed framework of how digital identity will work, starting with the individual sitting at the heart of every digital interaction. Guiding this model are Mastercard’s Principles of Digital Identity that […]