Credit Unions turn to Biometric Authentication
summary
Entersekt reports multiple credit unions live with FIDO-based authentication, starting by swapping SMS OTPs that contributed to $68M US losses in 2021 for passwordless biometrics in call center, branch and ATM flows, then extending the same device-bound FIDO token into mobile and web logins and even 3D Secure payment authentication in Europe. Deployment uses branded links or QR for desktop logins, pre-integrations with digital banking providers, activations in about a day, and cross-channel reuse so users do not re-enroll.
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chapters (8)
- 0:00Introduction and welcome
- 1:30Credit union authentication challenges
- 3:57Problems with legacy authentication
- 8:53FIDO authentication advantages
- 10:19Omnichannel biometric deployment
- 13:54Phased implementation strategy
- 16:20Future of FIDO in banking
- 18:50Q&A session
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