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For a great example of an attempt at security that does much more to annoy legitimate consumers than to actually fend off fraudsters, look no further than CAPTCHA. So before we add another layer of authentication , we should ask, is this actually going to serve a purpose or solve our problem?”. The Zero-Authentication Future.
At this point in 2019, we’ve all dealt with some flavor of two-factor authentication that uses SMS one-time passcodes. It’s a mild piece of friction, but it’s not terribly onerous and is doing something useful: keeping consumers safe. Building Ubiquitous Access. In a word, Prideaux noted, the problem is fragmentation.
By way of illustration, Ufford said there have traditionally been scores of siloed datasets across the issuing banks — and yet there is a framework the card networks provide through their rails and infrastructure, ubiquitous and trusted.
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