HID Global, globally renowned provider of trusted identity solutions, has announced advancements of its banking offerings with its new HID Authentication Service. The solution enables existing financial institutions and new digital startups to better facilitate secure digital banking transactions. The HID Authentication Service, which is a trusted identity platform, is on display at the Temenos Community Forum (TCF) event in The Hague, Netherlands, April 2nd to April 4th, 2019. HID Authentication Service HID Authentication Service includes interoperable APIs to allow for standard integrations with third-party software As the top-selling Temenos MarketPlace provider for 2018, HID Global is unveiling new capabilities with the HID Authentication Service to further improve integration with the T24 core banking platform and extend authentication services to the Temenos Internet Banking (TCIB), Mobile Banking (TCMB), and User Administration (TCUA) modules. The HID Authentication Service includes interoperable APIs to allow for standard integrations with third-party software, while also setting customers up for easy scalability, testing and deployment of the multi-tenant HID Authentication Service. HID Risk Management Solution The HID Risk Management Solution (RMS), a real-time risk profiling technology that protects financial transaction systems and banking applications against cybercriminals, is offered as part of the same suite of cloud services. “The global digital banking market is expected to reach nearly $9 trillion (USD) by 2025, and this expansion is driven by the opportunity to provide new services in new markets,” said Ben Robinson, Temenos Chief Strategy Officer & Head of MarketPlace. Cloud-first security strategy Ben adds, “A ‘cloud-first’ security strategy that easily integrates with Temenos’s T24 banking software is not only desirable for speed-to-market and flexibility, but is also a requirement for compliance in many cases.” A growing regiment of regulations, including GDPR, PSD2 and the Hong Kong Monetary Authority virtual bank guidelines, require multifactor authentication for banking and financial service transactions. Cloud authentication services Cloud authentication services enable banks to deliver the necessary levels of security, convenience and compliance Cloud authentication services enable banks to deliver the necessary levels of security, convenience and compliance for user access. The ISO27001-certified HID Authentication Service provides a secure audit trail of actions and events, including ‘who did what, when’, so that banks can demonstrate compliance and pass audit requirements. “By migrating to the cloud for identity and access management, banks are able to focus on their core business and devote more time and resources to delivering better banking solutions,” said Olivier Thirion de Briel, Global Solution Marketing Director for Financial Institutions, IAM Solutions, with HID Global. Olivier adds, “The innovation in IAM cloud services that HID is bringing to the banking industry creates a user experience that adds value to consumer banking offerings, aligned to the digital growth goals and customer satisfaction priorities of a bank.” Temenos Community Forum HID Global is showing the HID Authentication Service solution at the Temenos Community Forum (TCF) in The Hague, Netherlands this week. Visitors can see demos and discuss how HID’s cloud-first, API-first approach will strengthen their digital banking security.
HID Global®, a provider of trusted identity solutions, announces that it was the top-selling Temenos MarketPlace provider in 2018. HID Global’s authentication solution is made readily available through the MarketPlace to banks using the Temenos T24 Core Banking solution. Offering HID Global security solutions on the Temenos MarketPlace brings a new level of trust to banks around the world at a lower cost and with a faster deployment time. Threats against banks are evolving. With a shift to open banking and customers desiring mobile banking options, there are new avenues for cyber attacks. Identity and access management HID Global and Temenos have worked together for over a decade to take on the biggest cyber threats to banks. HID’s status as the top-selling MarketPlace provider showcases the dynamic nature of this collaboration. “Being the top-selling Temenos MarketPlace provider shows how HID is leading the way on identity and access management in the banking industry,” said Brad Jarvis, Vice President and Managing Director, IAM Solutions, with HID Global. Banks around the world benefit from HID’s authentication, threat detection and biometric solutions “Together, HID Global and Temenos are making it easier for banks to stay secure in an ever-changing digital landscape.” Banks around the world benefit from HID’s authentication, threat detection and biometric solutions. HID’s solution allows banks using Temenos software to launch pre-configured identity management solutions to create user credentials, manage password lock/unlock processes, track authentication events, and provide multi-factor authentication and transaction signing for customers. Time-Consuming research Operating on the Temenos MarketPlace means that banks know HID’s authentication solution will seamlessly integrate with their software. Costly and time-consuming research and testing are eliminated. Ben Robinson, Chief Strategy Officer at Temenos, added: “The value proposition of the MarketPlace is to find the best complementary solutions and to pre-integrate them with our software. By doing so, we enable our customers to select, test and deploy applications much faster, speeding up their innovation cycles. In 2018, our customers bought more solutions from HID than any other provider, underlining the strength of its security offering.”
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