4Front CU expands MemberPass authentication solution powered by Entersekt to bring biometric authentication to members for online and mobile banking
ATLANTA, Georgia [March 16, 2023] – Entersekt, a global leader in customer and payment authentication solutions for financial fraud prevention, today announced that 4Front Credit Union (CU) has expanded its MemberPass authentication solution, that is powered by Entersekt, to bring biometric authentication to members for online and mobile banking systems.
4Front CU had already been leveraging Bonifii’s MemberPass member authentication service for its call center, branch, and interactive teller machines (ITMs). The addition of Entersekt for digital banking provides passwordless, biometric authentication to members logging into its digital banking platform, thus reducing the reliance on SMS one-time passwords (OTPs) and knowledge-based authentication to protect against account takeover fraud schemes, including SIM-swap and phishing attacks.
By adding the extended authentication capabilities of Entersekt for their digital banking platform, 4Front CU members can now seamlessly authenticate their identities and sensitive transactions using biometric authentication across all channels.
“Ensuring the financial protection of our members is paramount to our mission and strategy at 4Front,” says Jack Martin, Chief Innovation Officer at 4Front CU. “MemberPass enables leading-edge authentication for our call center, branches, and ITMs. MemberPass’s extended functionality from Entersekt provides unmatched biometric authentication for our digital banking platform, while being in tune with members’ unique preferences for user login and payments.”
“Forward-looking financial institutions are realizing that they can now offer more secure, user-friendly login and payment experiences that protect against modern fraud schemes, without unwanted friction,” says Schalk Nolte, CEO at Entersekt. “We are empowering our customers to conquer fraud and move towards a passwordless, Context Aware™ Authentication strategy.”
“MemberPass credit unions have led the industry in enabling advanced technologies to authenticate members across multiple channels, including contact centers, branches, and ITMs,” added John Ainsworth, President/CEO at Bonifii. By leveraging the capabilities of Entersekt, MemberPass further extends their protection to include user login for online and mobile banking.”
Multi-factor authentication needs to fulfill two of the three elements:
· Knowledge: Something that the member knows, like a password or, in this case, an SMS OTP.
· Possession: Something that the member possesses, like a mobile device or a computer.
· Inherence: Something that the user is; namely, biometric information like a fingerprint.
When a member logs into their credit union profile, two of the three factors listed above should be independent of each other to make it harder for cybercriminals to access their account. Ideally, the authentication method should strike a balance between robust security and a smooth user experience. 4Front extended MemberPass, powered by Entersekt, provides a safer alternative to SMS OTPs, which are easily intercepted by fraudsters and susceptible to SIM-swap fraud. According to the FBI, $68 million was lost to SIM-swap attacks in 2021 alone.
Members who enrolled in MemberPass found the biometric authentication “fast and easy,” with others saying that they are more inclined to use this method going forward. 4Front’s extension of MemberPass, powered by Entersekt’s advanced authentication on their digital banking platform, enables members to register their devices on both channels, providing easier authentication for login and high-risk transactions.
To learn more book a demo with our experts.
About 4Front Credit Union
Celebrating over 70 years in Michigan, 4Front Credit Union serves over 98,000 members, with assets of over $1 billion and 18 locations. As a not-for-profit cooperative, 4Front prides itself on making banking smart and simple for its members, wherever they are on their financial journey. Membership eligibility is open to anyone living, working, attending school, or worships in Michigan.
About Bonifii
Bonifii, a credit union service organization, offers MemberPass, a simple, secure, and convenient form of digital identity verification. MemberPass gives credit union members easy access to their financial accounts while it proactively prevents fraud and keeps their private personal information secure. Visit www.memberpass.com to learn more.
About Entersekt
Entersekt ensures that digital financial transactions are secure and free from unnecessary friction. The company provides a single cross-channel platform for financial services institutions to meet authentication requirements and optimize user experiences. With a range of options available for deployment and configuration, Entersekt’s solutions are fully customizable across all channels and devices. A strong track record of over ten years’ working with leading financial services institutions across the United States, Europe, and Africa, combined with multiple patented security innovations, has established Entersekt as a global industry leader in authentication. Backed by companies like Silicon Valley-based Accel-KKR, one of the world’s top private equity firms, Entersekt continues to expand its footprint across key regions. For more information, visit entersekt.com.
ATLANTA, Georgia [March 16, 2023] – Entersekt, a global leader in customer and payment authentication solutions for financial fraud prevention, today announced that 4Front Credit Union (CU) has expanded its MemberPass authentication solution, that is powered by Entersekt, to bring biometric authentication to members for online and mobile banking systems.
4Front CU had already been leveraging Bonifii’s MemberPass member authentication service for its call center, branch, and interactive teller machines (ITMs). The addition of Entersekt for digital banking provides passwordless, biometric authentication to members logging into its digital banking platform, thus reducing the reliance on SMS one-time passwords (OTPs) and knowledge-based authentication to protect against account takeover fraud schemes, including SIM-swap and phishing attacks.
By adding the extended authentication capabilities of Entersekt for their digital banking platform, 4Front CU members can now seamlessly authenticate their identities and sensitive transactions using biometric authentication across all channels.
“Ensuring the financial protection of our members is paramount to our mission and strategy at 4Front,” says Jack Martin, Chief Innovation Officer at 4Front CU. “MemberPass enables leading-edge authentication for our call center, branches, and ITMs. MemberPass’s extended functionality from Entersekt provides unmatched biometric authentication for our digital banking platform, while being in tune with members’ unique preferences for user login and payments.”
“Forward-looking financial institutions are realizing that they can now offer more secure, user-friendly login and payment experiences that protect against modern fraud schemes, without unwanted friction,” says Schalk Nolte, CEO at Entersekt. “We are empowering our customers to conquer fraud and move towards a passwordless, Context Aware™ Authentication strategy.”
“MemberPass credit unions have led the industry in enabling advanced technologies to authenticate members across multiple channels, including contact centers, branches, and ITMs,” added John Ainsworth, President/CEO at Bonifii. By leveraging the capabilities of Entersekt, MemberPass further extends their protection to include user login for online and mobile banking.”
Multi-factor authentication needs to fulfill two of the three elements:
· Knowledge: Something that the member knows, like a password or, in this case, an SMS OTP.
· Possession: Something that the member possesses, like a mobile device or a computer.
· Inherence: Something that the user is; namely, biometric information like a fingerprint.
When a member logs into their credit union profile, two of the three factors listed above should be independent of each other to make it harder for cybercriminals to access their account. Ideally, the authentication method should strike a balance between robust security and a smooth user experience. 4Front extended MemberPass, powered by Entersekt, provides a safer alternative to SMS OTPs, which are easily intercepted by fraudsters and susceptible to SIM-swap fraud. According to the FBI, $68 million was lost to SIM-swap attacks in 2021 alone.
Members who enrolled in MemberPass found the biometric authentication “fast and easy,” with others saying that they are more inclined to use this method going forward. 4Front’s extension of MemberPass, powered by Entersekt’s advanced authentication on their digital banking platform, enables members to register their devices on both channels, providing easier authentication for login and high-risk transactions.
To learn more book a demo with our experts.
About 4Front Credit Union
Celebrating over 70 years in Michigan, 4Front Credit Union serves over 98,000 members, with assets of over $1 billion and 18 locations. As a not-for-profit cooperative, 4Front prides itself on making banking smart and simple for its members, wherever they are on their financial journey. Membership eligibility is open to anyone living, working, attending school, or worships in Michigan.
About Bonifii
Bonifii, a credit union service organization, offers MemberPass, a simple, secure, and convenient form of digital identity verification. MemberPass gives credit union members easy access to their financial accounts while it proactively prevents fraud and keeps their private personal information secure. Visit www.memberpass.com to learn more.
About Entersekt
Entersekt ensures that digital financial transactions are secure and free from unnecessary friction. The company provides a single cross-channel platform for financial services institutions to meet authentication requirements and optimize user experiences. With a range of options available for deployment and configuration, Entersekt’s solutions are fully customizable across all channels and devices. A strong track record of over ten years’ working with leading financial services institutions across the United States, Europe, and Africa, combined with multiple patented security innovations, has established Entersekt as a global industry leader in authentication. Backed by companies like Silicon Valley-based Accel-KKR, one of the world’s top private equity firms, Entersekt continues to expand its footprint across key regions. For more information, visit entersekt.com.
