Consumer Banking
- Artificial Intelligence is more in the headlines for its potential threats than for its benefits
- AI-generated deepfakes are easy to produce allowing fraud to be committed on an industrial scale
- Majority of consumer banking customers transact online, and need to know their accounts are safe
Help Prevent Millions in Financial Losses and Liabilities Using Biometric Authentication
With an ever-increasing percentage of banking occurring online, it’s important for traditional institutions to compete with sleeker organizations offering convenient business at the tap of a thumb. The challenge is to appear forward-looking, modern, and appealing to younger customers while maintaining the level of service expected from a brand name. Even household name banks have made headlines as scammers have managed to convince account holders to send money to criminally-held targets. As customers and banks wrestle over who should be liable for such crimes, it’s the bank that suffers brand damage.
Solutions for Consumer Banking
authID partners with banks to attract consumers who crave the convenience and simplicity of modern identity services in tandem with the solid security expectations associated with larger and more traditional organizations. While it’s the consumers who have been tricked into empowering their own victimizers, authID can protect them from their own vulnerabilities by enforcing facial biometric authentication for money movement, ultimately protecting consumer funds as well as the bank’s reputation.
Bank account takeovers aren’t just crimes against people’s savings – they’re also disasters for banking brands
Account Takeover Protection
Compliance / KYC
Deepfake Protection
Speed & Accuracy
Biometrics and liveness detection are irrefutable in determining proof of life, and when correlated with a physical ID, can authenticate users remotely and securely.
vs. 7 Seconds — 10x Faster Authentication Time
1 in 1 Billion
False Match Rate Accuracy
Zero
Biometrics Stored — Supports Global Compliance With Our New No-Biometric Storage Solution
Test Our Biometric Authentication for Consumer Banking
Step 1
Set up a quick biometric demo or free trial in minutes.
Step 2
Test API calls, user experience, and the admin portal in the cloud or on-premise.
Step 3
Finalize your testing and agreement to go live.
authID Has Verified Over 1 Million Identities
The authID biometric verification stack is used by millions of users at some of the top fintech, financial services, medical and hospitality companies.
Providing our valued customers with a seamless identity experience was paramount to our digital transformation and growth. authID helped HRB comply with rigorous regulatory programs through secure identity verification and facial biometric matching of the customer. Biometric authentication has helped us eliminate passwords, and secure critical customer transactions. We look forward to expanding our collaboration with authID to support our rapid global expansion into new markets.
Prabhakar Kaza, CEO
According to IBM Cost of a Data Breach Report - 2023
The average data breach in the US last year cost business $4.4M. Biometric verification would have helped stop it.
Set up a free 30-day trial today to help prevent a data breach!
According to IBM Cost of a Data Breach Report - 2023