TSYS has released a new real-time authentication tool that uses machine learning and behavioral analytics to evaluate every interaction between a customer and a financial institution. Dubbed the TSYS Authentication Platform, the system can be used in conjunction with other forms of authentication.
According to TSYS, the Authentication Platform will help reduce the threat of fraud, allowing financial services providers to remain compliant with PSD2’s strong customer authentication requirements. The company also stressed the international scope of its platform, which will get a boost from its existing relationships with upwards of 130 card issuers.
“If a device has been compromised in Ireland, we can use that information to flag a remote login attempt in North America,” explained TSYS Product Strategy SVP Justin Griggs. “We have real-time knowledge of potential fraud issues, and now we’re using that information to help our clients authenticate their customers and transactions across any use case.”
The TSYS Authentication Platform was developed in collaboration with Emailage, InAuth, Payfone, and Featurespace, the latter of which recently launched a new behavioral biometrics platform. All of the TSYS partners have provided technology that helps assess the authenticity of each interaction.
The new solution is currently available in Europe, and will make its way to North America in 2020.
September 13, 2019 – by Eric Weiss