Bonifii and Entersekt unveiled a new biometric authentication product for Credit Unions on Thursday (April 21), reports PYMNTS.com.
A credit union member would be allowed to authenticate his or her identification using biometrics whether conducting an eCommerce deal, attending a branch, calling a call center, or signing in to digital or mobile banking platforms using MemberPass Express, according to the statement. According to the press release, members would have “a uniform user experience” across all channels. The process is expected to take roughly 10 seconds, according to the companies.”
Schalk Nolte, chief executive of Entersekt, mentioned in his statement that by evaluating the context of each user experience in real-time, the combined new solution uses artificial intelligence to safeguard users from criminal activity. This determines the most suitable member authentication technique, ensuring that members receive industry-leading authentication even while experiencing a smooth and efficient user experience.
Bonifii’s President Said That Its A Revolutionary Solution For Credit Union’s Members
In a written statement, Bonifii’s president and chief executive, John Ainsworth, said: MemberPass Express, which draws on Entersekt’s extensive experience in this field, offers credit unions a revolutionary solution for verifying members’ identities. It will provide members with a sense of security while transacting and a highly efficient and simple user experience.
Based in Denver, Colorado “The financial industry’s first verifiable exchange network,” according to Bonifii, “is designed to facilitate trustworthy electronic payments using standard protocols and best-of-breed as well as safety technologies.”
Entersekt has offices in Atlanta, Georgia, London, England, two locations in Europe, and three locations in Africa.
Authentication is vital to the user experience, especially as 50 % of online account holders verify their credentials via electronic devices once or more per day.