Traditional Authentication is not a standalone fraud killer. One Time Passwords, Biometrics, Mobile Authentication via PUSH or SMS, these technologies by themselves are being subverted by new attacks. 15 years ago, with FFIEC guidance, One Time Passwords reduced fraud by themselves by over half. Today, new forms of front end user authentication are being adopted by more users than ever, but yet Fraud is still increasing.

Risk Based Authentication is not a standalone fraud killer. Leveraging risk engines to identify fraudulent activity is only as good as the data being given to the engine and the rules applied to the data. In some banks there are risk engines with hundreds of rules, making it a nightmare to manage and impossible to adjust for new attacks. Manually adjusting these rules has to come to an end and users are requiring real-time decisions and real-time protection from fraud and attacks.

Combining the appropriate level of authentication at the right time is key to new authentication needs. Artificial Intelligence and Machine Learning combined with data gathers on multiple end-points for multiple channels increases the overall visibility of fraud happening at a user level. Adding in the ability to challenge and address the attacks and fraud in real-time by asking users to provide the correct level of authentication when a problem is detected is paramount.

This session will look at the past technologies of authentication and risk analysis and offer a new perspective on where these technologies are headed and how to make use of them immediately.

Card fraud, account takeovers, business email compromises and emerging cybersecurity regulations and risks have kept, and continue to keep, plenty of CEOs and CISOs up at night. While it’s impossible to focus time, energy and resources on all of today’s fraud and cybersecurity risks, wise banking executives have mastered how to effectively identify their most pressing fraud risks and cybersecurity worries, in order to budget and properly allocate resources.

During this panel discussion, we will review how banks and credit unions of all sizes are addressing everything from EMV rollouts and FFIEC cybersecurity compliance, to ransomware and extortion attacks, and review how they are addressing emerging merchant risks associated with payment card data.

As fraudsters continually refine their techniques to steal customers’ credentials, organizations have found new ways to fight back with new tools that use behavioral biometrics and cognitive fraud detection.

It is critical to know how cognitive abilities would help in managing risks, compliance and governance as well as help in maximizing detection, reducing false positives and optimizing strong authentication.

The session describes various models used for behavior pattern analysis and demonstrates how this may be integrated into a real-world SOC to achieve a proactive posture.

The session addresses:

• Developing a risk framework with cognitive security;
• The technological expertise available to detect these anomalies and patterns.

The digital transformation is well underway, with new market entrants and established players deploying new digital services that enable digital-first consumers to open new accounts and access services. With the volume of personal information publicly available in social networks and in the cyber underground, cybercriminals can bypass traditional identity verification and authentication methods based on utilizing static data points.

In this session, we review:

• The challenges involved in assessing new digital identities;
• How to transparently assess users digital identity assurance, without impacting the customer experience;
• A holistic approach to fraud and identity with artificial intelligence and global visibility to help address these challenges for organizations.

Digital automation of all business processes globally is compelling enterprise fraud risk and vigilance teams to leverage cybersecurity tools to predict business fraud. It’s critical to know how human behavioral analytics, machine learning and orchestration can play important roles.

The session addresses:

• How human behavior cuts across the fraud spectrum;
• How machine learning and predictive analytics help prevent expanding financial and business process fraud;
• Using cross-leveraging technology and process intelligence to build behavioral models;
• Ways to predict, adapt and orchestrate that help in combating insider threats;
• Real-life use cases on the human behavior perspective helping tackle threats.

According to a recent Gartner report, Blockchain distributed ledger technology has reached the peak of its hype cycle and remains at the peak of inflated expectations. It offers enormous promise, but enterprises are unsure how to extract business value from it. The questions raised: What are the applications of a public or private blockchain in their respective domains? Will blockchain technology help cybersecurity or be a hindrance?

Some experts argue that blockchain technology can help enterprises address age-old cyber risk challenges, such as digital identities and maintaining data integrity, by securing and preventing fraudulent/malicious activity through its consensus mechanism. Several proof-of-concept projects are underway in India, and banking is leading the way.

This session offers insights on:

• Blockchain’s applicability to the enterprise security and fraud-prevention framework;
• How DLT has helped in enhancing authentication and secure applications without the need for any centralized authority or identity management;
• The value drivers for the blockchain initiatives underway;
• Establishing identity and preventing fraud using blockchain technology

In a world of constant data breaches, where all consumer PII data is exposed, financial institutions are seeking innovative ways to authenticate customers, verify identity and prevent account takeover. This is leading to investment in a world of innovative authentication methods but that also means FIs find themselves managing disparate tools without a unified cross-channel management approach.

From this session, you will come to understand the challenges of silo-ed cross-channel authentication strategies, as well as the potential solutions. See the results of an industry survey conducted on omni-channel authentication orchestration to learn:

• Is there a need for omni-channel authentication orchestration?
• What are the necessary elements of an omni-channel authentication strategy?
• How can we bridge authentication and fraud management solutions?