Infosys Finacle, part of EdgeVerve Systems, has teamed up with ICT service provider Samsung SDS to offer frictionless mobile banking and payment services to its clients.
Under the deal, Infosys Finacle will make use of Samsung SDS FIDO Certified, device-agnostic solutions to offer low-friction customer authentication for client firms.
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Built on Fast IDentity Online (FIDO) specifications, Samsung SDS FIDO leverages user’s biometrics information and Public Key Infrastructure technology to store critical user data in mobile and server.
The technology facilitates secure and frictionless transactions by enabling users to scan their fingerprint, use facial recognition or other biometric authenticators including voice and iris detection.
EdgeVerve president of customer and operations Andy Dey said: "Customers are becoming far more accustomed to accessing and spending their money via mobile. As such, financial services providers should be empowered with mobile solutions where they never have to choose between providing a good user experience and robust security.
"We want to enable banking without passwords wherein people can authenticate transactions by using flexible biometric options such as facial recognition and fingerprints. Our partnership with Samsung SDS achieves exactly this kind of friction-less banking, allowing greater customer retention, engagement and loyalty."
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By GlobalData
