Leumi Card Implements Mobile Authentication Based on Behavioral Biometrics
- SecuredTouch allows mobile user identification based on finger size, touch pressure, touch surface and more.
Bank Leumi, one of Israel's largest banks, today announced that its credit card subsidiary, Leumi Card, will introduce the integration of a mobile security product based on behavioral biometrics. Based on the technology of Israeli Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term SecuredTouch, the solution embedded in the Leumi Card app will provide an advanced layer of security to its customers and will eliminate the need for complex passwords.
SecuredTouch's technology allows user identification based on a unique personal usage profile within the mobile device, including such attributes as finger size, touch pressure, touch surface and more. By verifying the profile, Leumi Card will be able to identify, in real time, whether the card owner is the one operating the app.
Ohad Maimon, EVP, Leumi Card
Ohad Maimon, EVP Business Development & Strategy, Leumi Card, said: "This is an international breakthrough that enhances user experience while solving the known problem of poor conversion in financial apps, due to the need for complex passwords. Integrating the technology in Leumi Card's mobile app is aligned with regulators' directives for digital banking communications that require two factors of authentication."
The banks says that the completed integration of this technology follows a comprehensive experimental and testing phase. The technology has reportedly proven high user recognition abilities that could protect the user without compromising privacy, as the recognition process doesn't include any identifying details (like fingerprints).
The product, which will be available through Leumi Card's mobile app in the coming months, allows for the use of a seamless security factor and does not require any prior registration. The solution's identity verification continuously monitors every in-app activity, in addition to the initial login stage.
Leumi Card has also presented the pilot results, demonstrating the technology's recognition capabilities, to global financial institutions with which the company has collaborations in the field of Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term innovation. As a result, they report that SecuredTouch is now in advanced engagements towards further integrations with these parties.
Bank Leumi, one of Israel's largest banks, today announced that its credit card subsidiary, Leumi Card, will introduce the integration of a mobile security product based on behavioral biometrics. Based on the technology of Israeli Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term SecuredTouch, the solution embedded in the Leumi Card app will provide an advanced layer of security to its customers and will eliminate the need for complex passwords.
SecuredTouch's technology allows user identification based on a unique personal usage profile within the mobile device, including such attributes as finger size, touch pressure, touch surface and more. By verifying the profile, Leumi Card will be able to identify, in real time, whether the card owner is the one operating the app.
Ohad Maimon, EVP, Leumi Card
Ohad Maimon, EVP Business Development & Strategy, Leumi Card, said: "This is an international breakthrough that enhances user experience while solving the known problem of poor conversion in financial apps, due to the need for complex passwords. Integrating the technology in Leumi Card's mobile app is aligned with regulators' directives for digital banking communications that require two factors of authentication."
The banks says that the completed integration of this technology follows a comprehensive experimental and testing phase. The technology has reportedly proven high user recognition abilities that could protect the user without compromising privacy, as the recognition process doesn't include any identifying details (like fingerprints).
The product, which will be available through Leumi Card's mobile app in the coming months, allows for the use of a seamless security factor and does not require any prior registration. The solution's identity verification continuously monitors every in-app activity, in addition to the initial login stage.
Leumi Card has also presented the pilot results, demonstrating the technology's recognition capabilities, to global financial institutions with which the company has collaborations in the field of Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term innovation. As a result, they report that SecuredTouch is now in advanced engagements towards further integrations with these parties.