Latest Authentication News: Finextra Research

Thousands of PayPal users victim of data breach

The accounts of 34,942 PayPal users were hacked between the 2nd and 6th of December 2022 by unauthorised parties through a credential stuffing attack. Hackers potentially gained access to customers’ personal data, including their name, address, date of birth, tax ID number, and social security number.

20 January 2023

News/security

Macron advocates for online child safety initiative

French President Emmanuel Macron has launched the Children Online Protection Laboratory to protect children from potential online threats and cyberbullying by monitoring harmful content.

11 November 2022

News/crime

EBA publishes fraud taxonomy

The Euro Banking Association (EBA) has made its payment fraud taxonomy available to the public in a bid to curb the rising threats to the European payments system.

28 October 2022

News/security

PayPal lets Apple users ditch passwords for passkeys

PayPal is taking a major step away from passwords, giving users the option of logging in to their accounts with the new industry standard passkey.

24 October 2022

Company update/crime

CBA launches financial crime academy

A new academy focused on tackling financial crime will be formed under a partnership agreement between Griffith University and the Commonwealth Bank of Australia (CBA).

21 October 2022

Company update/security

Daon and CU*Answers address authentication for credit unions

Daon, the Digital Identity Trust company, and CU*Answers, the cooperative Credit Union Service Organization (CUSO) headquartered in Grand Rapids, Michigan, today announced they are providing digital identity proofing, authentication, and onboarding solutions to CU*Answers’ network of over 350 credit unions through Daon’s IdentityX® platform.

21 October 2022

Company update/payments

Checkout.com launches online fraud detection tool

Checkout.com, the cloud-based payments service provider, today announces the next evolution in the fight against fraud with Fraud Detection Pro, a fully flexible solution used by businesses such as Curve and Delivery Hero to solve the rising problem of online payments fraud and optimise revenues.

19 October 2022

Company update/regulation

Trulioo expands digital ID verification access across Latin America

Trulioo, a leading global identity verification company, has updated its coverage across Latin America, expanding access to the Dominican Republic and Uruguay and significantly strengthening data sources in Colombia and Mexico.

18 October 2022

Company update/identity

TrustBuilder updates identity management product

TrustBuilder announces version 11 of its Identity & Access Management (IAM) solution. In the new version the identity piece, in particular, has been further strengthened.

18 October 2022

News/security

FSB bids for greater convergence in cyber incident reporting

The Financial Stability Board (FSB) has set out proposals to ensure greater convergence in cyber incident reporting.

18 October 2022

News/crime

UK payment fraud losses show decline

UK Finance has re-iterated its call for cross-sector action to tackle criminal gangs perpetrating large scale fraud in the UK, as figures for the first half of 2022 show that a total of over £609.8 million was stolen through scams.

13 October 2022

News/security

Banks prepare for cyber-battle to promote cybersecurity awareness

To mark cybersecurity awareness month in the US, this October financial institutions are planning a series of tournaments and events to raise awareness around cyber security issues.

30 September 2022

News/regulation

FCA’s amendment to the 90 day PSD2 rule comes into effect

The update will further streamline users’ ability to confirm data access for open banking services.

30 September 2022

Company update/security

OneSpan's Virtual Room will offer face-to-face transactions

OneSpan, the digital agreements security company, today announced the general availability of its secure Virtual Room cloud service which enables organisations to deliver live, high-touch assistance to their customers in a high-assurance virtual environment. This next-generation customer engagement solution gives organisations the ability to balance identity security, authentication, and e-signature solutions from the broader OneSpan portfolio with a high-assurance virtual experience that is the next best thing to entering a branch or meeting in person.

16 September 2022

News/payments

Revolut unveils online checkout feature

Fintech superapp Revolut is taking on PayPal with its own one-click payment checkout feature for online purchases.

12 September 2022

News/startups

Griffin launches API-first BaaS platform Verify

London-based Banking-as-a-Service (BaaS) provider Griffin has launched Verify, a customer onboarding product to assist fintechs manage crime risks and KYC and KYB automation.

07 September 2022

News/security

N26 takes the offensive against phishing scams

Digital transformation of the financial industry has led to a major rise in global phishing scams and cyber-attacks. In order to protect consumers from falling victim to fraud, banks must enhance security protocols.

07 September 2022

Company update/retail

MeridianLink inks reseller agreement with MX

MX, a leader in Open Finance, and MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced a reseller agreement to integrate MX’s Instant Account Verification (IAV) product into MeridianLink Opening to speed up and enhance the digital account opening process.

01 September 2022

Company update/people

Synectics Solutions’ Chris Lewis joins OIX board

Chris Lewis, Head of Solutions with data insight specialist Synectics Solutions, has been appointed to the Executive Board of the Open Identity Exchange (OIX).

29 July 2022

Company update/payments

Paysend and Damane Cash to enable transfers to Morocco

Paysend, the UK-based FinTech with over 7 million customers, today announces a partnership with Damane Cash, a payments institution and subsidiary of Bank of Africa, to enable money transfers to Morocco.

28 July 2022