Let’s start with a statistic: nowadays 97% of all hacks involve exploiting people. From (spear)-phishing (email), baiting (infected USB), or impersonation (also known as Vishing, or Voice Solicitation). As we take more technical measures, fraudsters are moving towards social engineering. Please have a look at the following video:
Denis took the stage at Kuppingercole to explain why Onegini empowers digital insurers. How do you get customers online? How do you increase interactions? He explains business challenges like how to onboard your customers? How do you create a frictionless user experience? But at the same time there are some technical challenges insurers face like Single Sign-On, many silos and compliance and regulation like GDPR.
Buy a pair of shoes. Get the extras on your car insurance. How many online transactions do you do in a week? Do you ever wonder what would happen if the other party would say: "You also bought this and this". Where is the proof you didn't? Companies have the same problem the other way around. How can they prove you did the transaction? What if you would just say: "it wasn't me"? It's a trust economy. Once the trust is broken, the transactions stop.
Start using your customer's mobile device for a signature. Fast, traceable and secure. Maybe you need a pincode on top. Or maybe a QR code scan or fingerprint? Enter transaction signing in the Onegini MSP 3.1. I'll explain the technical details, the options you can use to configure it, and how it works functionally. Tracable. No man in the middle. No hard thinking. At the heart of it all lies a user's private key and a lot of cryptography and legislation you don't have to worry about.
Biometric based authentication is no longer just a single point of user identification; rather it is a part of the multifactor authentication process for each user. With the mainstreaming of mobility and omnichannel banking, biometric authentication is set to become the de-facto standard to authenticate a customer.
The holiday shopping fever has almost started and a lot of people are going to use their smartphone to buy gifts for their loved ones.
Banks and insurance companies are modernizing online and mobile engagement to compete on a seamless customer experience.
Industries are being shaped today by disruptive technology and consumer expectations for simple and convenient experiences. One of the industries most dramatically impacted is financial services, as can been seen by the rise of online only banks. According to recent studies, the number of bank visits per month for average customers has fallen more then 90% since 2000. Smartphones are now the main resource for banking, offering customer anytime, anywhere access to their finances. Traditional corporations are looking for ways to differentiate as the younger generations (also known as the Millennial Generation or Generation Y) don’t think their bank offers anything different than any other bank.
Not so long ago, an informal agreement has been made between the European lawmakers concerning a revised Payment Services Directive, also known as PSD2. The agreement finally came about after a tri-party discussion between the Council of Ministers, the European Parliament, and the Commission. The final text was published on June 2nd, after all the technical work has been completed. In perspective, these developments form a foundation for the most discussed PSD2 part’s execution – Access to Account or XS2A.
Mobile apps are often overlooked. That is a missed opportunity, because mobile is an integral part of the omnichannel strategy. And an app can offer a real customer experience.