News from the Wire

G+D unveils Convego AUTH-U, passwordless authentication

Tuesday, March 28, 2023 — 07:41:42 (EDT)

Munich, 28 March 2023 – Although banks have mastered the use of passwords, customers increasingly look for more seamless but still secure ways to access their digital services. Banks recognizing this need can leverage the G+D Convego AUTH-U solution, offering banks biometrics-based ways to authenticate their customers for banking and transaction approvals in a fast, easy, and reliable way. A fingerprint or facial scan is all that is needed for secure, two-factor authenticated access across all channels, be it mobile apps or in a web browser.

Too many devices, channels, accesses and passwords: logging in at all those different accounts is usually neither convenient nor really secure. Banks experience an ever-increasing risk for their customers using existing password-based authentication solutions due to sophisticated fraud attacks. However, banks know that convenience and security are exactly what customers demand. Accordingly, they need a future-proof and unified solution to resolve the trade-off between security and convenience and meet both requirements. With Convego AUTH-U, G+D offers a solution to put an end to this password chaos. Biometric authentication not only simplifies and streamlines the process, it also reduces time to access mobile banking and increases usage, thus creating immediate added value for users.

Convego AUTH-U is a scalable platform that integrates easily with the legacy system of a bank via standard APIs. Built on the global FIDO (Fast IDentity Online) technology standard, now embraced by Big Techs like Apple, Google and Microsoft, two-factor authentication takes place in the background, allowing bank customers to authenticate themselves biometrically – as easily as unlocking their smartphone. The solution is fully compliant with regulatory requirements, such as PSD2 (EU Payment Services Directive 2).

G+D Convego AUTH-U thus meets key needs of banks and financial institutions:

Convenient login. Biometric authentication eliminates using various PINs or passwords to access accounts on multiple mobile apps or in browser applications. Secure authentication. Higher risk transaction types such as transfers or payments are completed quickly and securely using biometric authentication – with a low friction experience for the customer. Optimized e-commerce. Biometric authentication reduces abandonment rates in online stores, as no passwords or PINs need to be remembered, nor do purchasers have to wait for a one-time password (OTP) via SMS.

"Consumers trust their financial institutions and rely on best of class security and convenience when it comes to protecting their accounts and authenticating them," says Quintin Stephen, Authentication Business Lead at Giesecke+Devrient. "With Convego Auth-U, we enable financial service providers to do just that: provide an authentication solution that runs virtually invisibly in the background and yet is absolutely secure. Banks need technology partners they can rely on, so that they are able to offer their customers a perfectly coordinated customer experience. We are proud to be such a partner."

G+D Convego AUTH-U_1​

G+D Convego AUTH-U provides secure two-factor authentication for access to accounts – a fingerprint or facial scan is all that is needed. (Source: G+D)

About Giesecke+Devrient

Giesecke+Devrient (G+D) is a global security technology group headquartered in Munich. As a trusted partner to customers with the highest demands, G+D secures the essential values of the world with its solutions. The company develops technology with passion and precision in four major playing fields: payment, connectivity, identities and digital infrastructures.

G+D was founded in 1852. In the fiscal year 2021, the company generated a turnover of 2.38 billion euros with around 11,800 employees. G+D is represented by 89 subsidiaries and joint ventures in 33 countries. Further information: www.gi-de.com.

Contact

Giesecke+Devrient

Christoph Lang

Spokesperson

Corporate Brand Communication

Tel: +49 89 4119-2164

Email: christoph.lang@gi-de.com

PR-COM

Nadine Harbeck

Senior Account Manager

Tel: +49 89 59997-761

E-Mail: nadine.harbeck@pr-com.de

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Source: Company press release.