convenience and security for banking customers with ca advanced authentication

World®’16

ConvenienceandSecurityforBankingCustomersAndrewSteadman- ProductDirector-Agiliti - Fiserv

SCX50S

SECURITY

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Abstract

Securingtheirchannels,bothdigitalandstaffed,iskeyforabankbutthatoftencomesatthepriceofconvenienceforthebank’scustomer.

Applyingtheappropriatelevelofsecurityattheappropriatetimewillbebothconvenientforthecustomerandsecureforthebank,satisfyingtheneedsofboth.WewilldiscusshowCAAdvancedAuthenticationandtheFiservFinancialCrimeandRiskManagementsolution,Agiliti,allowsbankstoapplyrealtimeriskassessmenttodeterminetherightlevelofsecuritychallengetoensurethecustomerandbankareprotected.

AndrewSteadmanFiservProductDirector,Agiliti

BalancingSecurityandConvenienceinBanking

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Whatproblemwereweseekingtosolve?

• FinancialInstitutionCustomersinteractacrossmultiplechannels• Securelyidentifyingcustomershasplacedanonerousburdenoncustomers• ‘Agiliti’wantedtosimplifythisforcustomers• EverincreasingcomplianceandonusontheFinancialInstitutiontoprotect• PSD2isgoingtoaddbroadaccessrequirements

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Makinga‘FasterPayments’transaction

?

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Makinga‘FasterPayments’transaction- 2 Ways

Theyaredifferent!!

SecurityCode

PayanewBeneficiary

£250Limitfor1st Payment

NoLimitfor2nd Payment

UserID,PasswordandPIN

PayanewBeneficiary

NoLimitfor1st Payment

AuthorisedbyCardDevice

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How‘Agiliti’Solvesthatproblem

• Acombinationofcomponentsbuilttoasinglesolution

• Servicespublishedviaaservicebusenablesallchannels

• Realtimeassessmentofriskdeterminesthelevelofcredentialrequiredbythecustomer• UserID+Password• TemporaryPIN• OneTimePINdeliveredviaSMS• CherishedQuestions

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AssemblingthePieces

FiservCommunicatorAdvantage

FiservFinancialCrimeRiskManagementPlatform(FCRM)

CAAdvancedAuthentication(CAAA)

AuthenticationServices

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DeviceSignatures

• EverycalltotheAuthenticationServicescarriesadevicesignature• GeneratedbyCAclientsidelibrarieswithinApps• Generatedbyjavascript inbrowser• Valueisnotstoreonthedevice

• TrustedDevicesareidentifiedbyanArcotgeneratedIDwhichisstoredonthedevice

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TypicalProcess

Logon••UserID••StaticPassword••TemporaryPIN••RiskAnalysis– SMSOTP

OTPrequiredifhighrisk••Senttomobiledeviceknowntobecustomers

••Dualfactorauthenticationapplied

Customerexecutesatransaction••PredefinedtohavepermanentPINrequired

••Userfor‘highrisk’transactions

Transactionpatternisnot‘normal’forcustomer••CAAAOTPissuedafterFCRMidentifiesanoutofcharactertransaction

••Holisticriskassessment

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CAAdvancedAuthentication

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FinancialCrimeRiskManagementPlatform

• Leveragesorganisationalknowledgeisassessingrisk

• Assessesinrealtimetodeterminerisk

• CreatesaCustomerRiskScore

• DeliversanHolisticViewofFraud

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WhichChannelsareusingitinAgiliti?

• BranchandCallCentreplatform• ValidatessomenumbersfromPIN• NeitherpasswordnorPINrequiretobefullydisclosed• Usescherishedquestionsoverpassword• AllowsinputofOTPreceivedbycustomerviaSMS

• Web,Tablet,MobileandApps• All4digitalchannelsareusingthesamecredentials• Useofcredentialsisminimisedforabetteruserexperience

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Wherearewenow?

• Solutionislivetothepublicwithanumberofinstitutions• Itissupportinginstitutionswithanewdigitalexperience• CustomerandMemberreactionhasbeenverypositive

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Whatdoesitmeanforcustomers?

• Onesetofcredentialstoremember• Onlyaskedforminimalcredentialsbaseduponassessedrisk• Knowndevicesallowdatadisplaywithoutanyinput• Removetypicalapproachoflowestcommondenominatorsecuritymodel

Thankyou

Andrew.Steadman@Fiserv.comwww.agiliti-fiserv.comwww.fiserv.com

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Don’tMissOurINTERACTIVESecurityDemoExperience!

SNEAKPEEK!

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