Accelerate your digital transformation

Consumers are looking for better ways to bank - they want safe, frictionless and fast interactions with banks and banking products relevant to them. LoginID’s solution, with various integration options, helps you secure your services and gives you added compliance, easing your digital transformation.

The future of banking

LoginID’s strong authentication solution for banks and financial services allows for:

  • Users logging into their accounts securely using FIDO through web and mobile
  • Step up authentication, a replacement to OTPs. and call center KYC
  • Transaction confirmation including digital receipts
  • Identity verification, including digital/remote client onboarding, and FIDO-powered eiDAS approved legal signature

LoginID’s solution gives banks a number of advantages:

  • Higher customer satisfaction:
    • Less friction around transactions = higher conversion rates - higher customer satisfaction
    • Increased trust/goodwill from bank offering a regulatory compliant solution and use of the FIDO brand
  • Lower Operational Costs:
    • Regulatory compliant (strong authentication) e.g. Open Banking, PSD2, FS-ISAC, among others
    • Widest range of simple APIs and SDKs for integration
    • Fastest integration for banks - hours not months
    • Lower OPEX from reduction in account takeover fraud, call centre KYC overhead
    • Streamline identity verification
    • Digital signature/proof capability - eIDAS legal signature - proof of acceptance of services/fees/offers etc.

Transaction confirmation: the benefits

Customer Benefits:

  • Significant lowering of transaction friction
  • Reinforces security/integrity around the experience, use of the FIDO brand as part of ‘trust’
  • Acts as a digital signature

Bank Benefits:

  • Eliminate friendly fraud - transaction info capture with biometric consent by client
  • Less operational overhead around fraud management
  • Built around WebAuthn framework, zero change required

Compliance with US FS-ISAC

The Financial Services Information Sharing and Analysis Center (FS-ISAC) recommends the following standards to ensure compliance:

  • FIDO
  • Oauth
  • OpenID Connect

We give you all three:

  • Standard APIs to connect Banks and 3rd Party Financial Applications
  • Consumer passed to a secure server at their Bank where they give ‘consent’ and give access privileges to 3rd Party
  • Consumer ‘Authenticates’ which creates a tokenized session between the customers Bank and 3rd Party

PSD2 and Strong Customer Authentication

Our FIDO authentication standards help you meet the Payment Services Directive’s PSD2 strong authentication requirements for user logins and cryptographically signed transactions. Under the PSD2 directive, transactions require multi factor authentication (MFA), plus all authentication devices must protect the independence of authentication elements through the use of secure execution environments installed on the device

Ready to Integrate?

Chat with one of our experts today to get started. Alternatively, if you would like to get started yourself, simply register an account to get immediate access to a feature-packed dashboard.

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