How will banking security evolve? To answer that question, it's important to address the three main types of banking, says authentication expert Jan Valcke.
"The first one is cash management - transactions between corporations and banks; the second one is consumer banking, and there is a third one [which] has become more and more popular, and that's mobile banking," says Valcke, who's the chief operating officer at Vasco, which sells authentication and e-signature solutions and services.
Each of those areas is seeing related security controls and approaches change in different ways. "The trends are a higher level of security products in cash management, more convenient products in retail banking, and in mobile banking, software that is completely integrated in the apps," he tells Information Security Media Group.
In an interview at Infosecurity Europe, Valcke discusses:
- The forthcoming evolution in banking security;
- The shift from contextual to continuous authentication;
- How biometrics can be used to help eliminate passwords;
Valcke is COO of Vasco. Previously, he was a co-founder of Digiline, which developed and marketed the first Digipass strong authentication tokens in 1991. Valcke headed sales and marketing for the firm, which became part of Vasco in 1996.