HID Global Announces Cloud-First Approach to Consumer Authentication Security for Banking Customers
AUSTIN, Texas--(BUSINESS WIRE)--Apr 2, 2019--HID Global ®, a worldwide leader in trusted identity solutions, today announced advancements of its banking offerings with its new HID Authentication Service. The solution enables existing financial institutions and new digital startups to better facilitate secure digital banking transactions. The HID Authentication Service, which is a trusted identity platform, is on display at the Temenos Community Forum (TCF) event in The Hague, Netherlands, April 2-4, 2019.
As the top-selling Temenos MarketPlace provider for 2018, HID Global is unveiling this week new capabilities with the HID Authentication Service to further improve integration with the T24 core banking platform and extend authentication services to the Temenos Internet Banking (TCIB), Mobile Banking (TCMB), and User Administration (TCUA) modules.
The HID Authentication Service includes interoperable APIs to allow for standard integrations with third-party software, while also setting customers up for easy scalability, testing and deployment of the multi-tenant HID Authentication Service. The HID Risk Management Solution (RMS), a real-time risk profiling technology that protects financial transaction systems and banking applications against cybercriminals, is offered as part of the same suite of cloud services.
“The global digital banking market is expected to reach nearly $9 trillion (USD) by 2025, and this expansion is driven by the opportunity to provide new services in new markets,” said Ben Robinson, Temenos Chief Strategy Officer & Head of MarketPlace. “A ‘cloud-first’ security strategy that easily integrates with Temenos’s T24 banking software is not only desirable for speed-to-market and flexibility, but is also a requirement for compliance in many cases.”
A growing regiment of regulations, including GDPR, PSD2 and the Hong Kong Monetary Authority virtual bank guidelines, require multifactor authentication for banking and financial service transactions. Cloud authentication services enable banks to deliver the necessary levels of security, convenience and compliance for user access. The ISO27001 certified HID Authentication Service provides a secure audit trail of actions and events ̶ who did what, when ̶ so that banks can demonstrate compliance and pass audit requirements.
“By migrating to the cloud for identity and access management, banks are able to focus on their core business and devote more time and resources to delivering better banking solutions,” said Olivier Thirion de Briel, Global Solution Marketing Director for Financial Institutions, IAM Solutions, with HID Global. “The innovation in IAM cloud services that HID is bringing to the banking industry creates a user experience that adds value to consumer banking offerings, aligned to the digital growth goals and customer satisfaction priorities of a bank.”
HID Global is showing the HID Authentication Service solution at the Temenos Community Forum (TCF) in The Hague, Netherlands this week. Visitors can see demos and discuss how HID’s cloud-first, API-first approach will strengthen their digital banking security.
For more information about the HID Authentication Service, please visit here.
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About HID Global
HID Global powers the trusted identities of the world’s people, places and things. We make it possible for people to transact safely, work productively and travel freely. Our trusted identity solutions give people convenient access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people around the world use HID products and services to navigate their everyday lives, and over 2 billion things are connected through HID technology. We work with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet. Headquartered in Austin, Texas, HID Global has over 3,000 employees worldwide and operates international offices that support more than 100 countries. HID Global® is an ASSA ABLOY Group brand. For more information, visit www.hidglobal.com.
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CONTACT: HID Global
Senior Director, Corporate Communications & Public Affairs
KEYWORD: UNITED STATES EUROPE NORTH AMERICA NETHERLANDS TEXAS
INDUSTRY KEYWORD: TECHNOLOGY INTERNET SOFTWARE SECURITY PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: HID Global
Copyright Business Wire 2019.
PUB: 04/02/2019 04:30 PM/DISC: 04/02/2019 04:30 PM