"HID Approve puts the power of simple and instantaneous verification into the hands of the user, who is the customer of the bank"
HID Global’s Global's identity management portfolio includes solutions that cover the entire identity lifecycle, authentication technology, and devices to ensure that the right people have the proper access to the right things. For this, the company provides services such as multi-factor authentication, digital certificates, credential management, physical identity and access management, and GDPR compliance.
Merging a Comprehensive Experience with Enhanced Security
Financial institutions usually have a hard time striking the right balance between security and seamless user experience. Mostly, providing a feature-rich millennial user experience would result in lowering the security of the business platform while providing a robust security system would lead to a highly complicated and confusing user interface. To this regard, HID Global has brought out their mobile app called HID Approve that has been developed for an enhanced digital banking experience. HID Approve which is a push notification based multifactor authentication solution that delivers a secure and straightforward way for the bank's customers to validate and authenticate transactions. It also has the functionality to provide a threat and fraud-detection solution that transparently protects online transactions from a wide range of threats, including Trojan and man-in-the-browser (MitB) attacks. This product runs on HID Global’s ActivID Authentication Server. By leveraging the server, banks can secure access to online servers for their customers. The ActivID’s templates and easy-to-define policies simplify user authentication and enable organizations to deploy a flexible authentication solution tailored to their unique requirements. It supports multi-factor authentication with all leading mobile phones and tablets to provide a flexible platform that grows with the authentication needs of the banks.
Our acquisition of Crossmatch strengthens HID Global’s ability to offer innovative biometric identity solutions to hundreds of millions of users worldwide
HID Approve has two deployment options. It can be offered as a turnkey application that is easily customizable and fully managed by HID Global. This helps banks to present their brand without the need to build and maintain their custom app. It can also be offered as a Software Development Kit that can be leveraged to integrate its capabilities into existing corporate apps. HID Approve increases the trust for end-users by displaying all the transaction information so that the transaction takes place in a fully-secure environment with the end-user enjoying supreme control. For the bank’s customers, HID Approve is available for download at Google Play Store and Apple App Store. "It includes flexible policy customization, robust security, and data analytics, which in my viewpoint will be a game-changer," adds Widing.
“HID Approve includes flexible policy customization, robust security, and data analytics,” says Widing. It also helps banks to create an audit trail to comply with regulations such as PSD2, GDPR, and so on.
Biometric Authentication for Better Identification
An authentication solution becomes effective only when it can understand the person who is transacting. Biometric readers and sensors from HID Global provide this assurance along with providing secure, convenient, and reliable fingerprint reading solutions. HID Global’s Lumidigm biometric authentication solutions enhance the security of applications where the identity of the user is of utmost importance by bringing in multispectral imaging technology. These solutions have received industry-wide recognition for their superior biometric performance.
Real-Life Benefits for Banks
HID Global's products and services are leveraged by millions of people in more than 100 countries to access physical and digital places securely. Their technology connects over 2 billion things that need to be identified, verified, and tracked. To help their customers create trusted physical and digital environments for the people who use them, HID Global serves a range of customers such as governments, universities, hospitals, financial institutions, and a wide range of innovative companies.
Banco Supervielle, an Argentine commercial bank, is tasked with having to send out Administración Nacional de la Seguridad Social (ANSES) pension checks to retirees. The pensioners have to go through a cumbersome monthly authentication process to prevent fraudsters from impersonating deceased pensioners and receive their funds. Banco Superville wanted to reduce the monthly burden placed on their pensioners and come up with a simpler process while still preventing frauds. To this regard, the bank implemented fingerprint authentication with HID Global’s Lumidigm multispectral imaging technology.
Multispectral imaging leveraged by the technology reads the fingerprint characteristics both from the finger's surface and subsurface while also performing real-time liveness detection. This helps to check if the fingerprint is from a living person or not by comparing the optical characteristics of the material being presented against known aspects of a living person's skin. This has enhanced the biometric performance while also providing proof of life.
By leveraging the technology, Banco Supervielle has simplified the authentication process for Argentine pensioners who receive their pensions in which they just need to present their finger to authenticate and receive their monthly stipend. The bank has also benefitted from this by gaining significant fraud savings. They have also been able to reassign the workforce initially tasked with the authentication process to the role of a commercial advisor. This has enhanced the customer experience with increased levels of attention for customers.
Expansions in Biometric Identity Management
To provide better biometric identity management solutions for its customers, HID Global acquired Crossmatch, a leader in biometric identity management and secure authentication solutions, in September 2018. “Our acquisition of Crossmatch strengthens HID Global’s ability to offer innovative biometric identity solutions to hundreds of millions of users worldwide,” says Widing. He also asserts that this acquisition is for the company to deliver on its promise of providing biometrics in critical identity applications.