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...
ANONYBIT FOR FINTECHS
Create the next generation financial experience with greater user privacy and digital security.
In the dynamic landscape of fintech, staying ahead means embracing innovation without compromising on security. Anonybit is the game-changer that empowers fintechs to revolutionize the way they handle transactions while safeguarding user privacy. Anonybit doesn’t just prioritize privacy for fintech security and fintech fraud prevention; it elevates the fintech experience. Our patent-pending technology safeguards transactions from potential threats without compromising on transaction speed or performance to ensure the ultimate fintech fraud prevention.
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"We have been impressed by the Anonybit team’s deep industry experience, as well as the company’s traction with identity verification providers and other industry partners that service banks."
Discover how Fintechs use Anonybit
Blocklist Checks
Using the Anonybit decentralized biometric backend for fintech security and fintech fraud prevention, search existing records to ensure that someone is not already in the system under another name.
Authentication
Invoke Anonybit to ensure someone is who they claim to be at any point in the user journey - login, step up, wire verification, help desk and more for stronger fintech security and fintech fraud prevention.
Account Recovery
Instead of passwords, security questions, OTPs that can be easily circumvented or authenticator apps and tokens that are cumbersome, use Anonybit selfie biometrics for quick and easy account resets for ultimate fintech security.
The Anonybit Genie closes the circle of identity for fintechs
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.
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 fintech security 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 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 provides 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.
Anonybit works with your existing fintech infrastructure
In an era where data breaches make headlines, Anonybit positions your fintech brand as a pioneer in safeguarding user information. Anonybit seamlessly integrates with your existing fintech security infrastructure, minimizing disruptions and maximizing efficiency. Whether you’re a start-up or an established player, Anonybit is designed for easy implementation, enabling you to experience the benefits of enhanced privacy and fintech fraud prevention without a cumbersome integration process.
Looking for a different integration?
Talk to our solutions team today.
Why fintechs love Anonybit
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Integrated identity management
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
Consistent experience across mobile, web, call center and even physical channels, with no one-time passwords, emails or knowledge questions that are easily phished and forgotten and 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.
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Multiple use cases
From securing peer to peer transactions, to enabling private banking and cross border payments, and DeFi, Anonybit serves as your biometric system of record, streamlining strong authentication and enabling fintech security from anywhere and at any time.
RESOURCES
Stay current on the latest in identity, biometrics, fraud prevention and privacy compliance.
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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.