For many banks, a siloed approach to authentication is still very much a reality: Their online banking might be protected by usernames, passwords, and a one-time PIN (OTP); their call center relies on knowledge-based questions to verify callers’ identities; and their mobile banking app is protected by face ID or a fingerprint.
This inconsistency causes immense frustration as customers move between channels. Furthermore, OTPs in particular are prone to vulnerabilities, raising the risk of fraud.
In this ‘Behind the Shield’ series chat, Entersekt’s Chief Strategy Officer, Dewald Nolte, explores the need for a unified authentication strategy. Watch to learn:
- Why unified, cross-channel authentication matters
- How social engineering is used to steal a bank’s OTPs
- How better authentication improves banking login success rates
- How unified authentication can benefit your financial institution