Identity Authentication Services for Financial Industry
Identity Authentication Services is a set of enterprise, (B2B) second-factor authentication solutions for issuing banks, payment card associations, online merchants, merchant banks, online marketplace solution providers, and financial institutions that ensures that financial transactions are secured. IAS Financial services authenticate credit and debit card transactions, both “card present” and online e-commerce transactions, as well as online banking activities and pre- and post-book account applications.
Card Payment Authentication
IAS for Card Payments authenticates credit and debit card transactions, resulting in reduced declines of legitimate transactions (false positives) and enhanced fraud detection. Use of mobile enhanced Card Payment Authentication by financial institutions can enhance the cardholder experience, reduce operational costs, decrease fraud losses, and increase revenue from interchange fees.
The service is complimentary to, and works seamlessly with, current bank fraud and authentication processes. IAS for Card Payments is currently offered through our strategic partner, Vodafone, under the service name Vodafone Mobile Enhanced Authentication.
e-Commerce Authentication allows online merchants to authenticate users at the point of sale, independent of the cardholder’s issuing bank. Using e-Commerce Authentication, online merchants can increase customer confidence in their site, decrease fraud losses, and lower their operational costs due to fewer cardholder disputes and chargeback processing.
Online Banking Authentication
Online Banking Authentication authenticates online banking events including log in, transactions, and profile/account changes. Use of Online Banking Authentication by financial institutions can create a richer customer experience, reduce operational efficiency through reduced fraud queue volumes, and increase customer loyalty.
Application Authentication authenticates applicants who submit applications for new accounts online. Authentication can occur at the point of application approval or during post-book account analysis. Use of Application Authentication by financial institutions and online marketplace solution providers can reduce fraud losses through earlier fraud detection, increase revenue through higher automated approval rate, increase operational efficiency, and enhance the corporate brand.