Stefan Widing, President and CEO of HID Global, explains that every time a transaction or access is attempted online, a notification is sent through push technology to a consumer’s mobile device to ask him or her to approve the transaction or login attempt. “The user swipes right with his finger to accept it or swipes left to reject it,” Widing says. In a nutshell, HID Approve is a high-octane effort to help banks put the power of “simple and instantaneous authentication” into the hands of their consumers.
By amalgamating public key-based cryptography with the firm’s proprietary authentication infrastructure, ActivID— which leverages push technology to yield better user experiences—HID Approve enhances cybersecurity for digital banking transactions. The major differentiator for the mobile app is its robust security feature that is far more intuitive and user-friendly compared to conventional authentication methods. Banks can now rest assured since their customers’ private online bank account information is secure, preventing data theft during transactions.
When it comes to deploying the service, HID Approve with its white-label rebranding feature fits into the customer’s UI seamlessly, allowing the bank to add value by fine-tuning and including their unique functionalities to the product. A bank can easily customize HID Approve so that it is presented as the bank’s brand without the need to build and maintain a custom app.
HID Approve includes flexible policy customization, robust security and data analytics
HID Approve also comes along with a Software Development Kit that enables organizations to integrate it with other corporate applications. HID Approve brings trust to end-users. It displays all the transaction information so that the end-user is in full control of the transaction in a fully-secured environment.
In addition to HID Approve, the firm also offers a multitude of innovative identity management solutions that have been attracting many banks and financial institutions, including a recent ATM verification for a Brazilian bank. For instance, Lumidigm from HID Global is a multispectral imaging technology that can be tailored to provide superior biometric authentication. With high levels of real-time detection, spoof prevention in conjunction with tamper-proofing and data encryption, Lumidigm enhances data integrity by a large degree. On the other hand, HID Global’s Digital Certificate solution permits encryptions of e-mails and other online documents, promotes paperless sharing and signing of contracts, and eliminates the hassle of multiple passwords and tokens.
Along with the suite of identity management solutions that helps banks fortify their infrastructure and reduce fraud, HID Approve empowers consumers to protect their finances in a simplified way. Widing emphasizes that the recently launched HID Approve has been and will be a strong addition to HID Global’s identity management portfolio. The turnkey mobile app is all set to address most of the identity lifecycle and authentication management concerns and ensure that only the right people have the right access to the right data. For bank’s consumers, HID Approve is available for download at Google Play Store and Apple App Store. “It includes flexible policy customization, robust security and data analytics, which in my viewpoint will be a game-changer,” Widing concludes.