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Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

CIO Business Intelligence

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. Have you thought about what can be done with this device to enhance identity authentication?

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Managing the whole lifecycle for human and machine authentication

CIO Business Intelligence

In my last column for CIO.com , I outlined some of the cybersecurity issues around user authentication for verification of consumer and business accounts. . FIDO as an industry initiative was set up a decade ago to standardize the need for strong authentication/password technologies. Well, yes, but there is more that tech pros can do.

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Architecting Identity: Five Essential Elements of a Modern Customer Authentication Service

CIO Business Intelligence

They may have a built-in user store supporting password authentication, for example. In response to cloud-based customer experiences, more focus has shifted to authentication. Modern authentication systems tend to be built around the FIDO standards of Web Authentication (WebAuthn) and Client-to-Authenticator Protocol (CTAP).

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Privacy, Authenticity, and Confidentiality

Phil Windley

Summary: Authenticity and privacy are usually traded off against each other. The tradeoff is a tricky one that can lead to the over collection of data. At a recent Utah SSI Meetup , Sam Smith discussed the tradeoff between privacy, authenticity and confidentiality. The following diagram illustrates these tradeoffs.

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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. Technically, this is a bias toward authenticity at the cost of privacy.

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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.

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Zero Trust with Zero Data

Phil Windley

Summary: The physical world is full of zero trust examples, but they gather attributes for the access control decisions in a very different way than we're used to online. Presenting your ID to buy beer is used so often as an example of how verifiable credentials work that it's cliche. The benefit of scale is obvious as well.

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