Tag: open banking
Just add trust...to transact
We have entered the era of multi-factor verification (MFV)
Identity systems are evolving down the same pathways that authentication followed. Welcome to the era of multi-factor verification (MFV). In the tech world, change is sometimes evolutionary, sometimes revolutionary, and often fails. Over time, technology comes and goes, and sometimes technology improves. One of the areas that has seen a lot of change is authentication.…
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What is identity orchestration and decisioning?
The notion of the identity ecosystem is not new. However, the alignment of data, APIs, and modern protocols has created a perfect environment for that identity ecosystem to thrive Users of online services demand a simple, secure, and low-friction experience. They don’t want to go through a complicated onboarding process with the result that they…
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How an Open Loop Identity Network Can Harden VRPs Against Fraud
When a new technology or process appears, you need something distinct, uncomplicated, and beneficial to prove the point. Open banking is an example of a disruptive force that looks set to shake up incumbent systems such as direct debits; Juniper Research expects open banking to handle more than $116 billion in global payment transactions by 2026. Variable Recurring Payments…
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The case for an open loop identity system
Lessons for identity from real-time payments and mobile wallets Ask anyone in the digital identity world, and invariably they will say that identifying someone to do a transaction is complicated. Anyone who thinks you can present a mobile wallet and bingo, you are verified to transact, is the equivalent of saying a swan glides but…
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Kuppinger Cole Awards Avoco “Outstanding in Identity Attribute Collection”
Avoco Secure are proud to be described as “Outstanding in Identity Attribute Collection” in the latest KuppingerCole Market Compass for “Providers of Verified Identity”. KuppingerCole described our technology as: “Avoco provides an identity hub which is situated between the data sources and a relying party and uses an identity API to call identity data for…
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Open Banking – The answer to reducing fraud and streamlining access to government services
Government services have been on a roller coaster ride for years now as technologies come and go. This situation is not unique to the UK. Government bodies across the world are actively trying to tackle the issues of customer engagement using identity tools. In the UK, even with the efforts of Verify, we still have…
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What the use of open banking means for identity networks
By connecting identity data from multiple sources through APIs, the open banking concept can help verify identity more reliably and improve the customer experience. When you think of Payment Services Directive 2 (PSD2), what likely springs to mind is the implementation of the Secure Customer Authentication rule (SCA). SCA was brought in as an additional…
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