Why Effective Digital Banking Security Doesn’t Require Machine Learning

There is certainly an important role AI and Machine Learning technology plays in addressing the most sophisticated online fraud as well as improving the user experience via risk-based workflows that ratchet up or down security based on the propensity for fraud. However, every bank is at various stages of authentication modernization and not all bank goals require advanced machine learning technology right out of the gate. Cloud-based MFA with user-friendly authentication options has proven to be a compelling “stepping stone” for many banks that are focused on growth. This approach improves the mobile channel experience, reduces operational costs by quickly moving authentication to the cloud, and establishes an extensible foundation to easily integrate future authentication and machine learning technologies when the bank is ready to implement them. In this virtual fireside chat, a panel of cybersecurity experts - including a guest speaker from Forrester - dispel the notion that effective bank authentication security requires AI and machine learning technologies. Discussion topics include: - An update on the current fraud landscape and state of online banking authentication - Strategic business drivers that influence authentication techniques for banks - The importance of speed-to-results; Deploying new authentication technology fast to meet business goals - The advantages of moving authentication to the cloud - How to achieve strong authentication by combining advanced MFA technologies, mobile security and a scalable cloud platform Panelists: - Kevin Moss, Senior Advisor, Lending & Payments - Will LaSala, Senior Director Global Solutions, OneSpan - David Vergara, Senior Director, Product Marketing, OneSpan - Andras Cser, Vice President, Principal Analyst, Forrester Research