Another bank is adopting smartphone fingerprint scanning for user authentication on its mobile app. Colorado-based FirstBank has announced that it’s working with app security developer Entersekt to integrate the latter’s Transakt authentication solution.
While there has been continuing enthusiasm among banks for simple solutions like Touch ID login, Transakt’s value proposition lies in its multi-factor capability. The system uses digital certificates and other validation techniques to uniquely identify users’ mobile devices, and use that identification as a second factor in addition to its fingerprint scanning system. Moreover, the solution is compliant with FFIEC standards.
It all adds up to a multi-factor yet one-touch authentication solution, which should offer a high level of both security and convenience to users of the FirstBank app. Commenting in a statement, Entersekt CIO Gerhard Oosthuizen suggested the Transakt solution provides “an opportunity here for digital-savvier banks to take a lead over their competitors by engineering attractively low-friction mobile interactions that nevertheless inspire confidence and trust.”
February 10, 2016 – by Alex Perala