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Effective fraud fighting requires FIs to identify their customers’ preferences and provide security solutions that suit users’ comfort levels and familiarity with certain technologies and banking channels.
. “At Nexmo we’ve built a verification solution, which is a turnkey product, available as an SDK, that allows you to seamlessly build strong authentication solutions inside your mobilebanking app,” Nexmo Product Lead Parth Awasthi explained from the Finovate stage.
Requiring multifactorauthentication (MFA) could add frictions to companies’ payment systems and customer experiences, but such tools are necessary to enable smart authentication and compliance decisions. consumers now use mobilebanking. Omnichannel Fraud Protection. Tracking The Payment Journey .
Sacknoff recently spoke to PYMNTS about examining how these authentication tools fit each channel customers use to interact with businesses. Fraud is an ever-evolving space, [so] it’s important, with multifactorauthentication, to look at it holistically,” she said.
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