This webinar will access the role of modern technology in making security a convenience tool. The presenters will talk about how customer demands for convenience can be translated into specific technology requirements and help FIs understand the future path of e-banking and m-banking authentication and transaction verification. While the cryptography of many such solutions has been available for years, the actual application methods were far from convenient. However, the outlook has changed quite a bit with the expansion of consumer-friendly tools.
The presenters will discuss how technologies such as Bluetooth, Color QR codes, and Mobile can affect the customer experience and make security more intelligent and user-friendly. The audience will learn how to make a bank's online security procedures reasonably secure and practical for the customer.
The presenters will discuss:
Combating social engineering attacks against OTP;
Securing the "right" thing: transaction verification vs user authentication;
Utilizing modern technology for user convenience.
Background
Strong authentication in an electronic banking environment has always been prone to "security vs convenience" dilemma. Over the years we have witnessed cyber fraud escalate tremendously and watched attack vectors change almost monthly. But ever since the original FFIEC Guidance and till this day quite a few product discussions within financial institutions are centered around making customer experience more convenient at the expense of security. While everyone is in agreement that user authentication and transaction verification are necessary to prevent fraud, the "convenience" part frequently takes priority over "security". There seems to be no end to this uphill battle. Do financial institutions always need to compromise?
To be fair, FIs have deployed a multitude of products that offer various security mechanisms on many levels. But the real challenge in this environment goes beyond merely providing additional technology solutions and increasingly complex security layers. The dilemma translates into providing trust. Trust that a customer can perform the necessary banking operations, not be exposed to fraud, and not to have to jump through multiple hoops to make it happen. The concept of convenient security is a paramount presumption for such trust. After all, users want to do more through their online and mobile banking apps, and they welcome and embrace security if it is convenient.
The presenters will discuss how technologies such as Bluetooth, Color QR codes, and Mobile can affect the customer experience and make security more intelligent and user-friendly. The audience will learn how to make a bank's online security procedures reasonably secure and practical for the customer.
Will LaSala is Sr. Director of Global Security Solutions at OneSpan and he brings over 25 years of software and cybersecurity experience. Since joining OneSpan, LaSala has been involved in all aspects of product implementation and market direction within financial institutions as well as top Fortune 500 organizations for enterprise security, healthcare, U.S. government, online gaming and mobile application development. He currently empowers the markets and OneSpan's largest clients with direct communication of new products and features and security changes. A security evangelist on mobile application development and authentication, LaSala is frequently quoted in the media and a frequent speaker at industry events.
Benjamin Wyrick
Vice President of Sales and Business Operations, NA, VASCO Data Security
Wyrick is responsible for managing VASCO Data Security's business operations in North America. He joined the company in 2005 and has been a key contributor to the overall growth of the VASCO strong authentication business in North America.
Wyrick and his team have successfully managed strong authentication security projects with some of the largest financial institutions, enterprises, and online applications around the world.
Wyrick is a frequent presenter at many banking and financial industry conferences and web seminars throughout North America on preventing cyber fraud, account and transaction security for online and mobile applications. Among his speaking engagements are NACHA national and regional conferences, Association for Financial Professionals Annual Conference, Bankinfosecurity.com web seminars and many others.
Prior to joining VASCO, Wyrick was working at Digital Insight where he helped drive the online banking application adoption among regional banks and credit unions.
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