MASTERCARD
To manage this balance, the future must be layered and intelligent. The combination of digital identity, biometrics, behavioural data, AI and open banking will enable us to better understand context across a range of activities, from cardbased and account-to-account payments to account openings.
Is the user accessing an account from their usual device? Are they navigating, typing or swiping in a way consistent with their normal behaviour? Does the account ownership information align? Are there signals the user is hesitating or may be under pressure from a scammer? The more confidence we can build in the legitimacy of an interaction, the less we need to rely on visible authentication steps that can create friction for consumers or be falsified. Mastercard is supporting the development of these innovations by actively contributing to regional and industry-wide initiatives, including the piloting of the EU Digital Identity wallets funded by the European Commission. As an advisory partner in the Nordic-Baltic eID project, we’ re also helping to define secure, user-friendly payment use cases and as a partner of the WE BUILD Consortium, another large-scale pilot, we’ re involved in the testing of real-world applications in consumer and business banking, including payments.
The future of authentication won’ t be about making consumers jump through more hoops. It will be about using better intelligence in the background to make trusted interactions simpler, and risky ones easier to detect in advance. As digital identity evolves, the most effective authentication experiences will be those the consumer barely notices at all. cybermagazine. com 103