Digital Identification
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Finance & Banking
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Fraud Administration & Cybercrime
Reuben Stewart of PNC Discusses Methods to Transfer Away from Utilizing Static Knowledge
Digital id proofing is a serious problem for banks and monetary providers companies. Many organizations depend on static information, corresponding to Social Safety numbers, which fraudsters can simply steal and misuse, mentioned Reuben Stewart, digital id lead at PNC Financial institution.
See Additionally: New Assaults. Skyrocketing Prices. The True Price of a Safety Breach.
“If something is static, it’s a sitting duck; contemplate it compromised,” Stewart mentioned. “We have to get away from utilizing Social Safety numbers as a principal identifier. It may be a component, nevertheless it shouldn’t be the first one as a result of that info is static, it will get compromised and it’s straightforward to acquire.”
Past proofing, banks face challenges in authorization that always “stem from the disconnect between the id suppliers dealing with authentication and the appliance homeowners who’re managing fine-grained authorization,” he mentioned.
“Quite a lot of occasions, the id supplier is concentrated on who the person is for authentication. However as soon as they get previous the ‘who,’ they move it on to the appliance proprietor to find out the ‘what.’ What can they do as soon as they get into the appliance? That is the place we see gaps.”
On this video interview with Info Safety Media Group, Stewart additionally mentioned:
- The dangers of static information reliance and the way fraudsters exploit it;
- Key gaps in authorization and their affect on banking safety;
- Modern identity-proofing strategies to reinforce fraud prevention.
Stewart is concentrated on technique and safety by administration of the shopper id life cycle. He’s a seasoned skilled with greater than 25 years of expertise within the monetary providers business, specializing in buyer id administration, fraud prevention and cybersecurity.
