Digital Transactions Authoritative, insightful and timely information for payments professionals
By Jim Daly
@DTPaymentNews
Chipmaker Gemalto N.V. and risk-management firm ThreatMetrix Inc. announced that they are jointly providing online authentication technology to banks, payment-service providers, payment networks, and financial startups.
Through a single vendor relationship, the companies’ customers can get access to ThreatMetrix’s Digital Identity Network and Amsterdam-based Gemalto’s various authentication services. The combination covers entire spectrum of risk-based and strong authentication techniques from both firms, the companies said.
“Authenticating digital identities has become essential for the financial-services industry,” Pascal Podvin, senior vice president of field operations for San Jose, Calif.-based ThreatMetrix, said in a news release. “This allows financial institutions to deliver superior customer experiences while driving online revenue growth. Crucially, this also prevents massive losses from rising fraud attacks, particularly in cases of identity spoofing.”
Hakan Nordfjell, senior vice president of eBanking and eCommerce at Gemalto, which has U.S. headquarters in Austin, Texas, added that the joint services can help clients comply with regulations such as the new Second Payment Services Directive (PSD2) in Europe. “For banks, this will facilitate in higher adoption of digital banking across their customer base, as well as target a reduction of both false acceptance and rejection rates,” Nordfjell said.
ThreatMetrix said its Digital Identify Network serves 4,500 customers and 30,000 Web sites generating 20 billion annual transactions. Gemalto sells EMV chips and SIM cards, and provides digital services in more than 180 countries. The company posted revenues of €3.1 billion ($3.3 billion) in 2016.
