Bonifii is integrating Entersekt’s biometric authentication technology with its own MemberPass Express solution for credit unions. MemberPass Express is a transaction processing service that facilitates secure financial exchanges for credit union members.
The partnership with Entersekt will provide those transactions with an additional layer of biometric security. Entersekt’s portfolio supports biometric authentication during login, and includes device authentication technology to make sure that a request is not coming from a strange location. The company also offers behavioral biometrics thanks to a prior partnership with NuData. The technology monitors accounts on an ongoing basis, and notifies administrators if it spots potential signs of fraud.
According to Bonifii, the new arrangement will deliver a better user experience in any channels that a credit union member happens to be using. MemberPass Express can be used to authorize online transactions, or as proof of identity when someone logs into a mobile banking account, calls into a contact center, or makes a trip to a physical credit union branch. In each case, the authentication process can be completed in as little as 10 seconds.
“Leveraging Entersekt’s vast expertise in this space, MemberPass Express provides credit unions with a revolutionary solution for authenticating members’ identities,” said Bonifii President and CEO John Ainsworth. “It will bring members peace of mind when transacting, and offer them a very quick and seamless user experience.”
Bonifii and Entersekt have already launched MemberPass Express trials for two credit unions. The technology is compliant with various Know Your Customer regulations.
Entersekt itself currently processes more than 1 billion interactions on a monthly basis. The company has previously partnered with Netcetera to provide e-commerce authentication services for German banks and Austrian card issuers, and enabled mobile authentication for FirstBank customers in Colorado. The Bonifii partnership speaks to the growing interest in biometric technology amongst credit unions in the United States.
April 26, 2022 – by Eric Weiss