GEC NEWS WIREHID Global’s ActivID Prevents Mobile Banking Fraud While Making It Easier for Users to Conduct Transactions
HID Global has enhanced its ActivID authentication offering for digital banking with a push notification solution that gives financial institutions a secure channel and easy method for notifying customers about pending transactions on their phones or tablets, and then proceeding with execution after receiving their authorization.
“With our ActivID Trusted Transactions solution, banks can offer far more convenient out-of-band transaction notification and authorization on mobile devices, which provides customers real-time alerts prior to a suspicious transaction being applied to their account. This places the control back in the customer’s hands by providing them with simple way to confirm the legitimacy of a pending transaction.” said Tim Phipps, vice president of product marketing, Identity Assurance with HID Global.
HID Global’s “phone as a token” out-of-band verification solution uses transaction signing with private key cryptography over a trusted and secure electronic channel. All communication is encrypted with mutual authentication between the user’s mobile device and the financial institution’s online banking application.
