Authentication that combines security with convenience? The time has come for Digital Biometrics!

Money2020 #628The password has been on life support for years. Two-factor authentication with SMS OTP has been proven safer, but just as it was gaining traction, NIST stated it was unsafe and should not be used. Physical biometrics is getting a lot of buzz, but not every device can read a fingerprint or eye scan; and consumers have expressed concerns over storage of this very personal data. Even the chief of the UK’s Treasury Select Committee has asked bank regulators to consider what happens when biometric data is stolen.

With card-not-present fraud on the rise and more transactions taking place via mobile device, it’s time for an authentication method that not only reliably authenticates users — reducing risk and potential fraud — but also protects users’ privacy without disrupting the customer experience. That’s why we’re excited to demo our iDNA authentication platform at Money2020 in Las Vegas, Oct. 23-26.

At the heart of iDNA is our patented Digital Biometrics technology which studies up to 900 attributes to recognize users based on the personalized data on their mobile device. By learning how the data changes based on usage, we can create an anonymized profile that represents the user, not just the device. This means the user can be safely recognized on any device – even new ones.

How do Digital Biometrics compare to existing methods, as well as other emerging technologies? For online services, it is more reliable. Since the user is recognized based on data from their mobile device, online services don’t have to be concerned about whether a password has been stolen, a fingerprint has been lifted or if an online image has been copied from a social media site. While it is possible for a hacker to steal all of a user’s data, creating a hardware/network/software environment equivalent to the actual user and behaving as the user does is highly unlikely.

For users, it is more secure and convenient. They, too, do not have to worry about passwords being stolen; they also don’t have to remember a complicated password or try to key it in to their mobile device. Digital Biometrics uses anonymized data analytics, so no private information is at risk.

We realize there is no one perfect authentication method which is why we believe iDNA with Digital Biometrics is the best “first layer” in a risk-based authentication environment. Our SDK integrates well with existing solutions. If a user can be safely recognized at launch, no further action is required. In the event suspicious activity is detected, a second layer — such as a PIN or physical biometric — can be deployed.

We invite you to stop by Booth #628 at Money2020 and see how we’re bringing security and usability together for an innovative authentication method whose time has come. If you’d like to schedule a time to meet with us at Money2020, or want to see a demo in advance, contact us today!

3D Secure 2.0 SDK Delivers Easier, More Secure Mobile Payments

NASHVILLE, Tenn. – October 4, 2016 – mSIGNIA, an EMVCo Technical Associate, today announced its 3D Secure 2.0 software development kit (SDK) which meets EMVCo’s draft specifications to make mobile payments more secure without disrupting the customer experience. mSIGNIA developed — and is currently testing — its 3DS 2.0 SDK in cooperation with an EMVCo member organization.

During last week’s EMVCo User Meeting in Shanghai, mSIGNIA CTO George Tuvell met with a number of representatives of 3DS providers, payment networks and card issuers. “Many of them saw the advantages of working with mSIGNIA over developing their own product,” said Tuvell. As a result, negotiations are underway to begin testing with several partners, including at least one other payment network.

Development of the 3DS 2.0 SDK began after the EMVCo User meeting in Copenhagen this summer. “That’s when we realized that while there are hundreds of SDK vendors, very few were ready to develop a solution that would work on mobile devices,” said Paul Miller, CEO of mSIGNIA. “mSIGNIA is grounded in mobile security and identity, we understand EMVCo’s technical specifications and we know that the only solution that will be widely adopted is one that not only reduces fraud, but also reduces the friction associated with the current 3DS protocol.”

While the current 3DS version reduces fraud for online card-not-present (CNP) transactions, it has not been widely adopted in the U.S. because related customer friction at checkout can lead to cart abandonment and lost sales. In addition, 3DS today does not support payments made via mobile device, including in-app and mobile website purchases, and digital wallets. The need to extend CNP fraud prevention to the mobile environment is critical as it has been projected that by 2020, mobile commerce will make up nearly half of total ecommerce transactions.

mSIGNIA’s 3DS 2.0 SDK is optimized for resource-constrained devices and analyzes additional data points for increased security. The SDK will enable issuers and 3D Secure providers to quickly, easily and cost-effectively integrate the mobile specifications into their own applications in time for the 2017 rollout of 3DS 2.0.