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Banking Execs Must ‘Wake Up’ as Security Measures Fail to Keep Up With Biometric Fraud

The Fintech Times

Banks are coming under an increasingly intense barrage of cybersecurity attacks, and many of these now use deepfakes and generative AI to make the initial breach. Now, Michael Marcotte, CEO of artius.iD , a digital ID and authentication firm, is calling on the cybersecurity industry to put banking at the top of the agenda.

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This Week in Fintech: TFT Bi-Weekly News Roundup 03/07

The Fintech Times

Identity verification platform IDnow has partnered with biometric authentication provider Keyless to enable ongoing user authentication beyond onboarding. The integration lets users be silently enrolled into Keyless during IDnow’s verification process, enabling biometrics to be reused for future high-risk actions.

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Hastings Direct Loans Partners with IDVerse

Finovate

Last month, IDVerse announced the beta launch of its real-time face matching solution , Face Access , that offers 99.998% accuracy and instant, secure user authentication.

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How Does Liveness Detection Help Stop More Fraud

Fi911

The system can discern real individuals from static visuals, or people using deepfake technology to impersonate another user. Benefits of Liveness Detection The dawn of deepfakes and sophisticated spoofing has necessitated advanced countermeasures. Together, these stages formulate a rigorous system for user validation.