Two leaders in biometric identification and security have teamed up to bring the latest in security technology to financial institutions by offering up to six-factor authentication for mobile banking accounts.
AimBrain layers advanced facial, voice, and behavioral biometric authentication with InMobile’s ability to detect an at-risk device, allowing organizations to authenticate customer identity from any device.
InAuth, a provider of digital device intelligence solutions, is enhancing their InMobile solution via collaboration with AimBrain, a biometric identity technology provider,. The InMobile software “authenticates the devices transacting with them, examining thousands of unique identifying attributes on mobile devices to create a permanent device ID that cannot be spoofed,” says InAuth, “Passwords are the easiest route for a fraudster to crack. Alongside sophisticated phishing and social engineering techniques, we see bank accounts becoming compromised due to the industry’s reliance on passwords. AimBrain and InAuth offer multiple factors of authentication that make it more difficult for a fraudster to spoof an identity.”
InMobile is able to assess a device’s risk-level which allows clients to use their mobile devices as an authentication factor. Financial institutions and payment providers around the world already use InMobile for their mobile banking and digital wallet services and AimBrain’s contribution enhances the security InMobile provides. AimBrain layers advanced facial, voice, and behavioral biometric authentication with InMobile’s ability to detect an at-risk device, allowing organizations to better authenticate customer identity. These factors can be combined, or applied individually.
Melding device and human authentication for mobile banking
“Through the InAuth InMobile solution, the customer’s mobile device is authenticated in real time, in a friction-free way for the customer. AimBrain provides leading facial, voice and behavioral biometrics that helps ensure only the genuine user of a device can unlock the banking app. Combining the two solutions makes it significantly more difficult to hack, spoof or replicate a customer’s login credentials,” notes InAuth.
As banks and financial institutions roll out these solutions, customers will be asked to register their biometrics either through providing a picture or by using an existing image the bank has on file. Once their biometric is recorded, customers will be able to log into their accounts without entering a username or password. It’s important to note a user’s biometric is never transmitted or stored in its original format. Biometrics are immediately converted to an encrypted mathematical string of data that only AimBrain can decrypt and authenticate.
InMobile is also able to authenticate your identity through behavioral analysis. They do this by seamlessly checking your device for malware, crimeware, scripts, and more to ensure you aren’t a bot. Once that’s verified, AimBrain’s deep learning algorithms authenticate your identity using multiple factors such as how the user is holding the device or how fast they type. Using these and other techniques, InMobile builds a unique behavioral profile for each user that can be authenticated each time the app is launched.
Passwords are a dying breed as they become easier and easier to hack. InAuth and AimBrain’s solution is an important step to a more secure solution of authentication for mobile banking.