11/12/2019 | Press release | Distributed by Public on 11/12/2019 01:04
AUSTIN, Texas, November 12, 2019 - HID Global, a worldwide leader in trusted identity solutions, today announced it has collaborated with Temenos (SIX: TEMN), the banking software company, to integrate HID's risk-based authentication solution with Temenos Infinity, a breakthrough digital front office product, and Temenos T24 Transact, the next generation in core banking. The joint offering, available on-premise or in the cloud, provides an agile, simplified path to secure digital banking, reducing the time and cost of delivering risk-based adaptive authentication, threat detection, and transaction signing on the Temenos platform. As part of the integration, HID Global's authentication solution can now offer self-service functions to over 3,000 Temenos customers through Temenos MarketPlace.
Temenos MarketPlace serves as an online store, where Temenos curates the most innovative fintechs and connects them with financial institutions from around the world. HID Global's authentication solution for Temenos customers combines its ActivID® Authentication Platform with the HID Risk Management Solution featuring real-time risk profiling technology. Also included is HID Approve™, a next-generation multi-factor authentication solution for online and mobile banking customers that combines the security of public key-based cryptography and mobile-based out-of-band transaction signatures with the convenience of mobile push notifications.
'HID has partnered with Temenos for more than a decade to provide solutions for nearly 100 banks worldwide,' said Brad Jarvis, Vice President and Managing Director of Identity & Access Management Solutions (IAMS) with HID Global. 'This latest collaboration streamlines banks' ability to implement advanced user authentication services with Temenos Infinity and Temenos T24 Transact. The pre-configured integration makes it easier than ever for Temenos customers to deploy out authentication tools without any customized development.'
HID Global's three plug-and-play components for risk-based authentication are tightly integrated with Temenos Infinity and Temenos T24 Transact. They provide several key capabilities that enable existing financial institutions and new digital startups to better facilitate secure digital banking:
'As more and more customers bank through digital channels, incidents of fraud naturally increase, and the ramifications to both bank and consumer can be massive,' said Adam Gable, Product Director - Financial Crime Mitigation, Treasury and Risk, Temenos. 'Banks need to protect their customers as well as retain them and improve trust. Using a combination of innovative technologies and techniques, HID's risk-based authentication solution means customers benefit from improved security at the source of the financial transaction - the device. The solution is a great addition to the Temenos MarketPlace, pre-built to work with the cloud-native and cloud-agnostic Temenos Infinity and Temenos T24 Transact. With this integration, Temenos customers will benefit from reduced cost and complexity of integration, while gaining access to a greater variety in security options.'
'We are very excited to see our long-standing relationship with HID further strengthened with the introduction of this risk-based user authentication solution,' said Paul Roberts, Director - Temenos MarketPlace. 'In today's digital banking world, this solution brings essential protection and additional peace of mind for both banks and their customers.'
The multi-tenant HID Authentication Service includes interoperable Application Programming Interfaces (APIs) to allow for standard integrations with third-party software and supports easy scalability, testing and deployment.
Click here for more information about HID's advanced multi-factor authentication for banking.
Stay Connected with HID Global
About HID Global
HID Global powers the trusted identities of the world's people, places and things. We make it possible for people to transact safely, work productively and travel freely. Our trusted identity solutions give people convenient access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people around the world use HID products and services to navigate their everyday lives, and over 2 billion things are connected through HID technology. We work with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet. Headquartered in Austin, Texas, HID Global has over 3,000 employees worldwide and operates international offices that support more than 100 countries. HID Global® is an ASSA ABLOY Group brand. For more information, visit www.hidglobal.com.
Temenos AG (SIX: TEMN), headquartered in Geneva, is the world's leader in banking software, partnering with banks and other financial institutions to transform their businesses and stay ahead of a changing marketplace. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 500 million banking customers. Temenos offers cloud-native, cloud-agnostic front office and core banking, payments, fund management and wealth management software products enabling banks to deliver consistent, frictionless customer journeys and gain operational excellence.
Temenos software is proven to enable its top-performing clients to achieve industry-leading cost-income ratios of 25.2% and returns on equity of 25.0%, 2X better than the industry average. These clients also invest over 53% of their IT budget on growth and innovation versus maintenance, which is 2.5X the industry average, proving the banks' IT investment is adding tangible value to their business.
For more information, please visit www.temenos.com.
# # #
© 2019 HID Global Corporation/ASSA ABLOY AB. All rights reserved. HID, HID Global, the HID Blue Brick logo the Chain Design, are trademarks or registered trademarks of HID Global, ASSA ABLOY AB, or its affiliates(s) in the US and other countries and may not be used without permission. All other trademarks, service marks, and product or service names are trademarks or registered trademarks of their respective owners.