CU Wallet, a Los Angeles-based consortium offering digital money services to over 100 regional and community financial institutions, has selected AnchorID to provide the multi-factor authentication capabilities of its platform.
AnchorID says its solution is able to leverage a wide range of authentication factors, with biometrics including voice, iris, hand, ear, gait, and even ear recognition. Other authentication factors include geolocation, mobile devices, and PINs, and the solution is compatible with Linux, Microsoft Azure, Microsoft Active Directory, LDAP, and SAML IT infrastructure.
In a statement announcing the partnership, CU Wallet CEO Paul Fiore lauded the Anchor ID solution for “providing Know-Your-Customer compliance and a suite of multifactor authentication products without requiring access to expensive core processor data.” The companies say that an interface between the CU Wallet and AnchorID platforms has already been developed and tested.
The solution could prove appealing to a number of CU Wallet’s members as the use of biometrics in financial services continues to expand, with AnchorID potentially offering a cost-effective solution for financial institutions.
September 26, 2016 – by Alex Perala