article thumbnail

Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

CIO Business Intelligence

Digitalization is a double-edged sword for banks, especially when it comes to security. As financial services become more digital in nature, it’s important that banks think differently when using data analytics, security tools, and education to improve identity authentication and customer data privacy.

article thumbnail

Making Banking a More Effortless Experience

CIO Business Intelligence

Along with nearly every other industry, banking is facing greater competitive pressure than ever. As banks continue to face this reality, they’re also tasked with addressing a variety of rapidly changing issues, including those surrounding data protection, adoption of cryptocurrency, and anonymizing data (AI models). .

Banking 131
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Privacy, Authenticity, and Confidentiality

Phil Windley

Summary: Authenticity and privacy are usually traded off against each other. At a recent Utah SSI Meetup , Sam Smith discussed the tradeoff between privacy, authenticity and confidentiality. Authenticity allows parties to a conversation to know to whom they are talking. The following diagram illustrates these tradeoffs.

article thumbnail

Provisional Authenticity and Functional Privacy

Phil Windley

Summary: Provisional authenticity and confidentiality can help us manage the trade offs between privacy and authenticity to support online accountability along with functional privacy. Authenticity is often driven by a need for accountability 1. That's why, when you open a bank account, they ask for numerous identity documents.

article thumbnail

3 examples of organizations improving CX with self-composed AI

CIO Business Intelligence

Here are three examples of organizations that have improved their customer experience with a “build-your-own-AI” approach: Bayview Technologies contextualizes CX and cuts handle time in half by blending omnichannel with self-built conversational bots. Traditional identity verification methods like knowledge-based authentication (e.g.

article thumbnail

Voice Cloning Conundrum: Navigating Deepfakes in Synthetic Media

SecureWorld News

Voice ID: Security measure under scrutiny The emergence of advanced voice cloning capabilities like OpenAI's Voice Engine calls into question the reliability of voice ID as a secure authentication method. Voice ID systems have become a staple in various security measures, from smartphone locks to secure banking verifications.

Media 73
article thumbnail

Passwords Are Ruining the Web

Phil Windley

Compare, for a moment, your online, web experience at your bank with the mobile experience from the same bank. Chances are, if you're like me, that you pick up your phone and use a biometric authentication method (e.g. As a consequence, when I need somethings from my bank, I pull out my phone and use the mobile app.