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It’s been another varied week in Mobile ID World news, but this week’s top stories roundup features payment cards as a notable theme, with, of course, an appearance from the topic of COVID-19. This week brought the news that China UnionPay has offered a Letter of Approval for a biometric payment card featuring IDEX Biometrics…
“This LOA is a critical step to driving mass adoption in China. IDEX and our partners are now approved for deployment in the world’s largest market for payment cards.” Vince Graziani, CEO, IDEX Biometrics IDEX Biometrics is celebrating another important step toward mass commercialization of biometric payment cards: the company says that a card featuring…
Access Softek has released an automated investment tool that was built to encourage participation in wealth management programs. The EasyVest solution is compliant with financial regulations and can be integrated into any existing online or mobile banking platform. EasyVest is specifically geared toward smaller, community financial institutions that have trouble competing with the more robust…
In a major effort to speed up a slow-moving bureaucracy and help with a smooth reopening of its economy in the post-COVID-19 era, the government of Greece has announced plans to rapidly expand its digital services in 2020. With the country barely out of a decades-long financial crisis, the Greek government launched more than 500…
ABI Research is predicting that COVID-19 will accelerate the adoption of contactless payment cards. The firm now believes the number of cards issued in 2020 will exceed initial estimates by more than 110 million cards, a figure that will bring the total number of contactless payment cards in circulation to more than 2 billion internationally. …
RSA is urging financial institutions to take an omni-channel approach to fraud prevention. In a new blog post, the company notes that people can now log into their accounts through multiple different channels using many different devices, and financial institutions need to ensure that all of those channels are protected if they want to guarantee…
TruNarrative will be providing identity verification and onboarding services for the ikigai wealth management and banking platform. ikigai’s app allows users to create a budget, monitor their spending, and make (and track) investments through a single interface. All of those services are offered at a £20 flat monthly fee, which distinguishes the UK-based ikigai from…
South Korea’s KB Kookmin Bank (KB Bank) is turning to Trustonic to safeguard its mobile banking app. The integration of Trustonic Application Protection (TAP) will make the KB Star Banking App easier to use, and will also raise the transaction limits for KB customers. To generate those benefits, Trustonic TAP will change the way the…
Apple is changing the privacy policy of its Apple Card in order to share more user data with its financial partner, Goldman Sachs – but for many, that might be a good thing. Apple says that the data to be shared will be aggregate and anonymized, and is aimed at giving Goldman Sachs more clarity…
The U.S. fintech company HUMBL is entering the Indian market through a strategic partnership with Digital India Payments Limited (DIPL). DIPL currently provides payment processing services at more than 30,000 locations in India, and at additional locations in Nepal, Bangladesh, the Maldives, Myanmar, and Sri Lanka. HUMBL, meanwhile, is a mobile payments specialist. The company…
The FIDO Alliance is calling attention to a recent report from the Financial Action Task Force (FATF). The FATF is comprised of international financial regulators, and FATF Recommendations set the industry standard for anti-money laundering and counter-terrorist financing best practices. In that regard, the organization’s latest “Guidance on Digital Identity” is noteworthy because it placed…
Another Argentinian bank has chosen to adopt FacePhi’s SelphID onboarding solution. The facial recognition specialist has announced that it is teaming up with Santander Argentina and Compusistem, the latter of which is the technological partner for the bank. SelphID uses face and document recognition to compare a selfie to the photo on an official ID…
Aware, Inc. is expanding its presence in Latin America. The technology specialist is now providing biometric authentication for a slew of leading banks throughout the region. The company did not disclose the names or number of its current partners, but indicated that they had all integrated Aware’s Knomi authentication platform into their mobile banking apps.…
Hitachi is teaming up with the VietCredit Finance Company to explore the potential for digital financial services in Vietnam. The companies are specifically hoping to use AI to automate key pieces of the personal loan applications process, allowing the financial institution to turn those applications around more quickly. To that end, Hitachi and VietCredit will…
Lisa Stanton has officially become the latest member of the Trulioo Board of Directors. Stanton has more than twenty years of experience in the payments industry, with prior stops at Citizens Financial House (where she served as the SVP of Payments and Distribution) and InAuth (where she served as CEO). She is currently a member…
Jumio is providing secure identity verification and onboarding services for CIMB Bank Philippines. The all-digital bank will specifically be deploying Jumio’s portfolio of selfie-based authentication solutions, which will significantly reduce the amount of time mobile customers need to open new accounts. To that end, CIMB noted that it is the fastest-growing digital bank in the…
Entersekt is now providing secure authentication technology for two Austrian card issuers and an unspecified number of German banks. The integrations are being delivered through Entersekt’s pre-existing partnership with Netcetera, a payments specialist that has in turn implemented Entersekt’s authentication tech for Bank-Verlang. Bank-Verlang provides digital services for financial institutions in Germany. “We were on…
IDEMIA has teamed up with Mastercard and Deutsche Bank to place its Motion Code technology in a new credit card in Spain. The new card has been dubbed the Tarjeta Calma. So what makes Motion Code so significant? Traditional credit cards have a static three-digit CVV code on the back of the card, which usually…
Mastercard is moving forward with a pilot of a new digital identity service that would facilitate secure identity checks in digital and real-world settings. The first tests will be carried out in Australia, and specifically at the Australia Post and Deakin University. The new solution was designed as a replacement for physical ID documents. To…
