Lately, the news has been filled with stories of identify fraud. This, paired with the increase in mobile payments, furthers the need for companies to have access to enhanced tracking and security capabilities.
A team of Logic PD engineers and designers addressed this real world challenge and uncovered new insights on how the Internet of Things (IoT) technology can help improve people’s lives during the Logic PD ACME-thon held in late April.
The solution, a multi-modal security platform for card purchases, uses NFC (near field communication) authentication combined with camera imaging to protect users. When users make a mobile payment at the point of sale, the kiosk snaps a picture of the purchaser.
This image can be incorporated via the cloud into the user’s digital transactional record, which was stored and distributed via SeeControl in this example, allowing users to identify who made each purchase, and easily identify those that are fraudulent even before banks and financial institutions.
“Our hackathon was an opportunity for our experts to explore the possibilities of useful solutions to today’s challenges,” says Scott Nelson, PhD, chief technology officer and executive vice president. “With the recent significant breaches in security at leading retailers, the need for this type of solution is particularly meaningful.
“In a real world application, we would begin this process through our Adrenaline series,” adds Nelson. “We begin with a one-day user centric business modeling workshop and transition to a rapid prototype process and a pilot service. This allows us to test the solution with minimal start-up costs to validate the concept and get to market faster. The Adrenaline Series is an agile, iterative solution for navigating the IoT ecosystem with a quick, low risk, formalized development process that allows customers to assess needs, pilot and validate a solution with users to deliver ongoing value and participate in the subscription economy.”