I was recently asked to create a white paper for RSA and EyeVerify on key considerations for selecting a consumer authentication vendor. I identified five key considerations:
- Consumer choice
- Demonstrable fraud reduction
- Meeting a 'mobile first' strategy'
- Regulation compliance
These five considerations are powerful criteria for organizations when assessing authentication solutions and vendors.
Consumers must be given a choice of convenient, easy to use authentication services. The availability of a wide range of device-based authentication technologies including multiple biometric solutions supports this requirement. Convenience and consumer choice can also be combined in a well-designed consumer authentication solution. The combination of risk based authentication (RBA) and mobile biometric authentication services (MBAS) can meet this criteria. Risk based authentication can meet a good percentage of normal authentication scenarios and mobile biometrics can be applied to authentication scenarios that require further ‘proof’ of true identity; a combination of frictionless and friction-light authentication.
Service providers are increasingly pressured to support legacy service channels including physical (bank branch and retail store) and telephony at the same time as evolving their offering to work across a wide range of new technology, first web, now mobile and moving swiftly into the Internet of Things (IoT). When choosing an agile technology partner that can support multiple delivery channels, omnichannel support, an organization must ensure that they choose an authentication solution that can operate across a wide range of these channels. The mobile first strategy can allow organizations to design and deploy effective authentication services that meet this consideration.
Fraud is rising in all sectors. A consumer authentication vendor must be able to demonstrate fraud reduction as a result of deploying the chosen authentication solution – measurable and tangible fraud reduction benefits.
Around the world, regulatory powers are adapting existing regulation or introducing new ones to ensure that consumers are protected when using the latest digital services. A trusted technology partner must be able to demonstrate:
- It can help organizations address the latest federal and industry regulations; and
- It actively participates in influencing regulatory bodies to ensure that convenience and ease of use are not sacrificed at the expense of over rigid security requirements.
Getting the balance between security and convenience is an essential ingredient in supporting flexible digital service delivery.
To read the white paper in full, you can download it from the Goode Intelligence website here.
Thank you - Alan