• 422M

    victims of identity theft last year

    Identity Theft Resource Center
  • 90%

    increase in account takeover fraud

    Javelin
  • 70%

    of financial services organization lost >$500K to fraud

    CFO Magazine
  • 41%

    of financial institutions do not have internal fraud teams

    CFO Magazine
  • Only

    27%

    of Credit Union executives invested in modern fraud management

    Toolcase
  • 84%

    increase in check fraud last year

    CNBC

ANONYBIT FOR BANKS & CREDIT UNIONS

Current methods of authentication are ineffective at stopping fraud or degrade the customer experience.

  • 422M

    victims of identity theft last year

    Identity Theft Resource Center
  • 90%

    increase in account takeover fraud

    Javelin
  • 70%

    of financial services organization lost >$500K to fraud

    CFO Magazine
  • 41%

    of financial institutions do not have internal fraud teams

    CFO Magazine
  • 27%

    of Credit Union executives invested in modern fraud management

    Toolcase
  • 84%

    increase in check fraud last year

    CNBC

No matter how much is being spent on bank security and fraud prevention, attackers still manage to get through. The root of the problem begins with how personal data is stored and managed. Personal data is stored in central honeypots and that data gets used for account access. From setting up an account with social security numbers, to retrieving funds and conducting transactions with usernames and passwords — the circle of identity is broken. Implementing privacy-preserving biometric fraud detection ensures that people are who they claim to be.

Discover how Banks & Credit Unions use Anonybit

Blocklist Checks

Using the Anonybit  decentralized biometric fraud detection backend, search existing records to ensure that someone is not already in the system under another name and maximize bank security.

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Authentication

Invoke Anonybit to ensure someone is who they claim to be through biometric fraud detection at any point in the user journey - login, step up, wire verification, help desk and more.

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Account Recovery

Instead of passwords, security questions, OTPs  that can be easily circumvented or authenticator apps and tokens that are cumbersome, Anonybit provides biometric fraud detection for quick and easy account resets.

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The Anonybit Genie closes the circle of 
identity for banks & credit unions

Easy IDV integrations

Anonybit easily works with existing Identity Verification providers to ingest images captured during the digital onboarding process. If there is no IDV in the workflow, Anonybit provides an intuitive selfie capture interface that checks for liveness, deepfakes and injection attacks for increased bank security.

Prevent duplicates, synthetics and blocklisted users from enrolling

Today’s fraudsters know how to get around today’s KYC and IDV protocols. The one thing they cannot hide is their face.  The digital onboarding module runs a search against the existing biometric profiles to give you a clean, trusted biometric directory that you can rely on for all your identity management needs.

Patent-pending backend based on multi-party computation

Biometrics are sharded and stored across a multi-party cloud environment such that no party has access or knowledge of the data held by another party at any time.  Each component of the system is encrypted with its own cryptographic key, which is not accessible by any administrator, eliminating the even insider threats.

Link any attribute to the decentralized biometric profile

Connect credentials, tokens, FIDO PassKeys and more to a trusted biometric profile to create the foundation for strong, two factor biometrics downstream.

Identity validation based on “something you are”

Leveraging state of the art NIST tested algorithms with built-in liveness detection, Anonybit significantly improves bank security with  reliable, strong authentication regardless of device or channel – digital, physical, chat, call center.

Streamlines account reset

Anonybit neutralizes this attack vector, while reducing authentication time by 70%,  lowering fraud and improving the user experience, with the savings going straight to your bottom line.

INTEGRATIONS

Anonybit works with your existing tech stack

Because of privacy and data concerns, the one data point that can ensure a person is who they claim to be, that is, a biometric, is often not utilized. In addition, identity management processes are completely disjointed, and this is what hackers exploit. With our numerous integrations and industry partners, Anonybit fits easily into your existing tech stack, bringing privacy, security and end to end user convenience.

 

Looking for a different integration?
Talk to our solutions team today.

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Why Banks & Credit Unions love Anonybit

  • Less fraud

    Leverages biometrics to eliminate the gaps exploited by fraudsters. Works across devices. Not susceptible to device takeover, unlike traditional solutions that fall back to PINs, and KBA.

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  • Streamlined UX

    Same user experience across all service channels with no one-time passwords, emails or SMS that disrupt the user experience.

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  • Privacy compliant

    Enhances compliance posture with GDPR, CPRA, etc. and reduces concerns around storing and managing biometrics and other sensitive data.

    Learn More
  • Multiple use cases

    From consumer use cases in the branch, online or in the help desk, to workforce use cases for remote and privileged employees, Anonybit serves as your biometric system of record, enabling strong authentication from anywhere and at any time.

    Learn More

RESOURCES

Stay current on the latest in identity, biometrics, fraud prevention and privacy compliance.

  • A World With No Data Breaches: Is It Even Possible?

    On July 6, Marriott, the multinational hotel franchise, announced a second staggering data breach since just the beginning of this year....

    Blog
  • 4 Ways to Safeguard Your Credit Union Members From Fraud

    Credit unions, with their member-focused approach and community-oriented services, have become increasingly popular. However, they face unique challenges when it comes...

    Blog
  • Minimizing Risk in The Rush to Passwordless Authentication

    In recent years, banks and financial institutions have been shifting towards passwordless authentication as a means to enhance security and meet...

    Blog

Are you ready to eliminate the risk of data breaches and account takeover fraud?

Get rid of central honeypots of data. Embrace biometrics across the user lifecycle.

Contact Us