“And when a transaction is deemed suspicious, FSS Secure3D supports step-up authentication using fingerprint or facial recognition, or One Time Passcodes.”
Mumbai-based Financial Software and Systems, or FSS, has announced a new secure payments solution that leverages behavioral analytics and biometrics for user authentication.
Called FSS Secure3D, the solution is designed to be compliant with EMVCo’s 3-D Secure 2.0 standard. FSS says it uses machine learning algorithms to get acquainted with an end user’s transaction behavior and detect anomalies. Together with other data pertaining to things like the device used, its location, and so on, the system can produce a risk score for each transaction.
And when a transaction is deemed suspicious, FSS Secure3D supports step-up authentication using fingerprint or facial recognition, or One Time Passcodes.
In a statement announcing the new solution, FSS Retail Payments President Suresh Rajagopalan emphasized the solution’s balance between security and low-friction convenience. “Secure and seamless transaction journeys are a strategic differentiator for new-age commerce,” he said. “FSS Secure3D improves risk-based decisioning capabilities and enables issuers find the sweet spot between strengthening anti-fraud measures and delivering frictionless transaction experiences.”
FSS says its solution can process 8,000 transactions per second, and is available on a cloud-based ‘Authentication-as-a-Service’ basis.
March 18, 2019 – by Alex Perala