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New Approaches for Customer Authentication Across Channels Janet Smith Senior Vice President, Identity Solutions Mastercard Worldwide ©2016 Mastercard. Proprietary and Confidential

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Page 1: New Approaches for Customer Authentication Across Channels · 2016-09-16 · New Approaches for Customer Authentication Across Channels Janet Smith Senior Vice ... Proprietary and

NewApproachesforCustomerAuthenticationAcrossChannels

JanetSmithSeniorVicePresident,IdentitySolutionsMastercardWorldwide

©2016 Mastercard. Proprietary and Confidential

Page 2: New Approaches for Customer Authentication Across Channels · 2016-09-16 · New Approaches for Customer Authentication Across Channels Janet Smith Senior Vice ... Proprietary and

©2016Mastercard.ProprietaryandConfidential2

Authenticationiscriticaltothepaymentindustry

Approval Rate1

Physical 96%

Digital 83%

1x

3x

Paymentsinthedigitalworldshouldbeassafeandsimpleastheyareinthephysicalworld

Fraud Rate2

The challenge… Authentication can help…

1. ApprovalRateSource:MastercardDataWarehouse.2. FraudRateSource:JavelinStrategy&Research,July20133. MastercardSecureCodecardholderverificationmethod(CVM)fraudstudy,2013.

LessthanIssuersthatimplementdynamicauthenticationexperiencethelowestCNPfraud8BPS

11%Transactionapprovalratesriseby11%whenfullyauthenticated

Approval Rate1

Fraud Rate3

September15,2016

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©2016Mastercard.ProprietaryandConfidential3

Passwordsstilldominant…butintoday’sdigitallyconnectedworld,they’reareout-of-datewithconsumers’needs

• Consumersuse5digitaldevicesonaverage1

• Timespentonmobiledevicesnowsurpassesdesktopsandlaptops2

• Consumershaveupto30onlineaccountsrequiringpasswords3

>90%ofuser-generatedpasswordsare

vulnerabletohacking6

1 out of 5consumersuse

thesamepasswordforeverywebsite4

84%ofconsumersadmitforgettingtheirpassword4

47%ofconsumersareusingpasswordsover5yearsold5

60%ofconsumersfind

passwords“cumbersome”7

1. In17countries.Digitas,ConnectedCommerceSurvey2015.2. eMarketer. TimeSpentperDaywithMajorMediabyUSAdults,2011–2017,2015.3. IdentityTheftResourceCenter.ConsumersFallShortonUsingStrongPasswords.2015.4. KetchumGlobalResearch&Analytics,surveyofconsumersin17countriescommissionedbyMastercard,2015.5. CBSSmallBusinessPulse.What’sInAPassword.Infographic.2016.6. YahooFinance.YourPasswordIsn’tSafe.2013.7. AccentureDigitalConsumerSurveyof24,000consumersin24countries.2015.

September15,2016

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©2016Mastercard.ProprietaryandConfidential

Consumerswantanalternativetopasswords—asdobanks,merchants,regulators&everyoneelse…

4

Passwordsareinconvenientandfrustrating

Consumersresentthehoopstheymustjumpthroughtoprovewhotheyare,andone-timepasswordsviaSMSonlyincreasecheckouttimeandfrustration.Securityisimportant,butsoisconvenience.

Passwordsarenomatchfortoday’sfraudsters

AndtheproblemwillonlygetworseasEMVdrivesfraudsters

totheonlinechannel,increasingtheriskofcard-not-

present(CNP)fraud.

PasswordswillnotmeetnewregulationsRegulatorybodiesaroundtheglobearebeginningtomandatestrongtwo-factor

authentication.

ForgottenpasswordscauseabandonedshoppingcartsAboutathirdofonlinepurchasesareabandonedbycardholdersatcheckoutbecausetheycan’tremembertheirpassword.1

September15,2016

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Consumerswantserviceproviderstorecognizetheminasingle&consistentwayacrosschannels&devices…

Shapedbydigitaltechnology…today’sconsumerhashighexpectationsfor

convenience&securityintheirfinancialtransactions

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©2016Mastercard.ProprietaryandConfidential6

Mobilebiometricauthenticationenablesasingledigitalconsumeridentityacrosschannels

TYPICALAUTHENTICATION

SOLUTIONS

KBA*W/CALL CENTER

CALL CENTER

DIGITAL PAYMENTS

MOBILE BANKING

SUSPECT TRANSACTIONVALIDATION

DIGITAL WALLETS

IN-BRANCH

September15,2016 *KBA:KnowledgeBasedAnswer;OTP:One-timepassword

Page 7: New Approaches for Customer Authentication Across Channels · 2016-09-16 · New Approaches for Customer Authentication Across Channels Janet Smith Senior Vice ... Proprietary and

©2016Mastercard.ProprietaryandConfidential

TransformingtheConsumerAuthenticationExperience

SelfieAuthenticationhttps://www.youtube.com/watch?v=DfLarAas-U0FingerprintAuthenticationhttps://www.youtube.com/watch?v=m4qi3t1HP3g

Page 8: New Approaches for Customer Authentication Across Channels · 2016-09-16 · New Approaches for Customer Authentication Across Channels Janet Smith Senior Vice ... Proprietary and

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Bothconsumersandfinancialinstitutionsbenefitfrommobilebiometricauthentication

CONSUMERBENEFITS

• Providesamoreconsistent,satisfyingexperienceateachauthenticationtouchpoint

• Eliminatesthefrustration ofmanagingandrememberingpasswords

• Providesstrongprotectionforconsumer’sfinancialdata

• Empowerscardholderstocontroltheirdigitalidentity

FINANCIAL INSTITUTIONBENEFITS

• Delightsdigitallysavvyconsumerswithanintuitiveandconsistentshoppingandbankingexperience

• Addressesemergingregulatoryrequirementsinmanymarketsforstrongtwo-factorauthentication

• Decreasesfraud andoperationalcosts

• Enhancescustomerengagementandloyalty

• Increasesrevenuesbyenablingincreasedtransactioncompletionandapprovalrates

September15,2016

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KeyConsiderationsWhenImplementingaMobileBiometricSolution

TECHNICALLEGAL&REGULATORY

• Notalldevicefingerprintsensorsarecreatedequal…• Research&testthebiometricfalsematch&falseacceptratesbeforeenablingadeviceforyoursolution

• Ensurethebiometrictemplatestorageondeviceissecure• NewdevicesandOSupgrades createopportunities&challenges,be

preparedtoconstantlytestandpushoutupdates• Regulation&dataprivacyrelatedtobiometricusagevariesbycountry

(sometimesitvariesevenwithinacountry)andisever-changing…investingoodlegalcounsel!

September15,2016

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©2016Mastercard.ProprietaryandConfidential10

KeyConsiderationsWhenImplementingaMobileBiometricSolution

STRONGSECURITY&CONTROL

• Takealayeredapproachtosecurity… utilizetoolslikedevicecryptography,deviceidentification +biometricstoenhancesecurity

• If you’rebringingbiometricdatabacktoacentralserverformatching- end-to-endcommunicationchannel encryption iscritical

• Makesureyouunderstandandcan setthepass/failthresholdsforbiometricmatching

• Don’tstorebiometricdata inacentralserver– edge-basedbiometricmatching ontheconsumer’smobiledeviceisbest!

September15,2016

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KeyConsiderationsWhenImplementingaMobileBiometricSolution

CONSUMERCONVENIENCE&CHOICE

• Consumerswantachoiceofbiometricmodalities, suchasfingerprint,facialbiometric,eye (veinoriris),voice…

• Somebiometricmodalitiesaresuitedtocertainauthenticationusecasesbutnotforothers…voiceisagreatexampleofthis!

• Consumerusability testingiscriticalwhen introducing anewbiometricmodalityormobilebiometricusecase.

• Ensureconsumerscanenablemultipledeviceswithoneenrollment

September15,2016

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Questions?

[email protected]


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