Device Authentication to Stop Account Takeover
Asking online customers challenge questions (what is the name of your favorite pet?) or completing a text verification (when a company texts the user a code to enter online), is frustrating for customers – even if it is protecting their accounts.
To increase security and minimize customer friction, anti-fraud company iovation has announced the immediate availability of its device-based authentication service, which uses a customer’s known devices – such as laptop or mobile phone – to verify authorization to access their account.
“We’ve all been there as consumers; we can’t remember our challenge question answers, or need to take time out of our day to verify our device with an authentication code received via text or email,” said Scott Olson, vice president of product at iovation. “We’re excited to launch iovation’s device-based authentication because it minimizes many of these impediments for customers while strengthening security for user accounts.”
It should be noted that when iovation’s device-based authentication recognizes that a device is new, has never been used to access an account or serves as a kiosk or public computer, a business can proceed with traditional two-step verification methods such as texting authentication codes, or prompting challenge questions.