Payfone will be working with banks for the launch of its Identity Certainty products in 2015
Payfone, a mobile security solutions provider, has announced the launch of a new product called Identity Certainty, which will be used by several banks to ensure the security of financial information. The company has partnered with three major financial institutions, which will begin using Identity Certainty in the first quarter of 2015. These institutions will also be working with Early Warning, a fraud protection and risk management firm, in order to become more secure.
New service aims to make identity authentication simpler for banks
Identity Certainty is meant to act as an extra layer of protection for banks that offer mobile services. Mobile banking has become quite popular among consumers because of the convenience that it represents. A growing number of people are making use of banking applications, and there has been a marked increase in security issues associated with these apps. As such, banks have been taking steps to ensure that they are able to protect their mobile customers, partnering with companies like Payfone to accomplish this task.
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Security products may help keep consumer information safe and secure
The new products from Payfone will help banks verify a customer’s identity before allowing them access to accounts and services. Mobile identity authentication has become quite important for banks offering mobile services because of the growing prevalence of fraud and identity theft. Authentication services will help banks mitigate the impact of fraud and keep consumer financial information, as well as their actual money, more secure.
Mobile security continues to be a serious issue for consumers and businesses alike
Mobile security has become a very prominent issue. Many mobile consumers do not take steps to ensure that their devices and information is secure, opting instead to rely on their banks and service carriers to do this for them. The emergence of mobile commerce has made security a much more complicated issue as well. Payfone is one of several companies that is working to provide more security to the mobile space and help keep consumers and businesses protected against fraud.