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Early Warning Blog

Reinforcing Authentication Best Practices

Posted by Rich Rezek, vice president market development, Authentication Solutions on Aug 21, 2016

Industry Dialog on SMS OTP Picks Up

In last month’s blog, we touched on the latest draft of the Digital Authentication Guideline (DAG) (open for public preview) from the United States National Institute of Standards and Technology(NIST), discouraging companies from using SMS-based authentication as a form of out-of-band (OOB) authentication. We shared insight from Al Pascual, senior vice president, research director and head of fraud & security at Javelin via his blog No, SMS OTP Isn't Dead.

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Topics: Authentication, Identity

Industry Experts Rank Early Warning as Top Provider in Digital Identity Assessment

Posted by Jim Mortensen on Aug 19, 2016

The term “Digital Identity” has been popularized to link a consumer to his or her transactions online. The definition itself varies by generation, signifying the important evolution taking place. Millennials tend to associate their digital identity to online activities, social media data or biometric information while their predecessors tend to classify personally identifiable information such as a Social Security number, Driver’s License information and banking identity information as the core elements that make up their identity credentials. In truth, a consumer’s digital identity has evolved to encompass all of these things and more.

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Topics: Authentication, Identity

No, SMS OTP Isn't Dead

Posted by Al Pascual - JAVELIN on Jul 31, 2016

Last week’s announcement from NIST that SMS one-time-passwords (OTP) were deprecated as a form of out-of-band (OOB) authentication put the industry in a tizzy.  Funny thing was that NIST did hedge a bit in its language, but it seemed that the agency was relegating SMS OTP to the junk pile when reading some of the posts out there.  

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Topics: Authentication

Securing the Mobile Wallet Experience

Posted by Jim Mortensen on Jul 14, 2016

Last month, Al Pascual, senior vice president, research director and head of fraud & security at Javelin, authored an article, “Mobile Wallet Fraud: This is Just the Beginning,” as part of our ongoing conversation on this topic and in conjunction with a recent report, white paper and webinar on the subject. In that content, Pascual raises awareness of the projected growth in mobile wallet adoption, forecasted to grow to just under 90 million by 2019. However, for consumers yet to adopt mobile wallets, concern for security is cited as the primary reason. Pascual also points out the opportunity for fraudsters to enroll compromised card-not-present credentials onto a mobile wallet as the transition to EMV diminishes the opportunity to commit fraud at the point of sale.

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Topics: Mobile Wallet Fraud

Fostering Financial Inclusion While Combatting the Growing Risks of New Account Fraud

Posted by Robin Love on Jun 29, 2016

Urged to open their doors to more consumers, banks are simultaneously under pressure to reduce the impact of rising fraud. Combatting new account fraud while working to foster financial inclusion is a tall order. As banks continue to search for the best way to keep fraudsters out of the banking system while bringing more consumers in, they should consider solutions that address these two seemingly distinct challenges in unison. The methodology and the technology that banks use to screen and validate new account applicants should have a dual purpose, identifying consumers worthy of deposit accounts and also uncovering criminal intent.

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Topics: Authentication, Identity

Mobile Wallet Fraud: This is Just the Beginning

Posted by Al Pascual - JAVELIN on Jun 21, 2016

Even though the early rush of Apple Pay fraud has been stemmed, mobile wallets remain a valuable target for fraudsters. In 2015, approximately 112,000 consumers reported being victims of mobile wallet-related account takeover and this is likely to get worse before it gets better, largely due to three major factors: EMV, the growing adoption of mobile wallets, and the technical skill of cybercriminals.

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Topics: Authentication

A Perfect Storm of Identity Fraud is On the Horizon

Posted by Julie Conroy, Aite Group on May 23, 2016

New account acquisition is an increasingly challenging proposition for financial institutions (FIs) of all sizes. Opportunities for new account fraud are further exacerbated by the growing number of digital-native millennials, or consumers that prefer to conduct commerce in the online and mobile channels. Additionally, Dodd-Frank dramatically changed the economics of retail banking in the United States, while the Consumer Financial Protection Bureau (CFPB) is intensely scrutinizing new account risk assessment practices, pushing FIs toward greater financial inclusion.

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Topics: Authentication, Identity

6 Trends Impacting Consumer Demand for Faster Payments

Posted by Early Warning on May 12, 2016

Whether it be televisions, cars, computers or mobile phones, consumers have come to expect constant advancements in the technology they use every day. Consumers rely on technology to make their lives easier, and banking technology is no exception.

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Topics: Payments

Five Strategies Banks Can Use to Win the Faster Payments Game

Posted by Lou Anne Alexander on Apr 28, 2016

The real-time revolution is here. The government is encouraging the industry to quickly enable faster payments. Businesses, consumers, and government entities all stand to benefit; but financial institutions need to play a central role in the creation, delivery, and protection of the evolving payments ecosystem. When looking at your internal systems and resources, keep these five strategies in mind to ensure your success.

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Topics: Payments

InfoSec Takeaways from the 2016 RSA Conference

Posted by Alan Dundas on Mar 29, 2016

The RSA Conference is one of the largest information security events in the world. 2016 marked the 25th annual RSA conference at the Moscone Center in San Francisco. More than 40,000 InfoSec industry leaders and professionals attended to discuss topics like artificial intelligence and machine learning, privacy, encryption, the Internet of Things, industrial control systems, crowdsourcing, authentication and other industry hot topics.   

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Topics: Authentication