Bonifii and Entersekt provide context-aware biometric authentication technology for credit unions
MemberPass is the first KYC-compliant member-controlled digital identity issued by credit union cooperatives. With the addition of Entersekt’s technology, members will be protected by authentication technology. The solution provides members with a superior user experience, enabling them to authenticate themselves on any channel in less than 10 seconds.
With MemberPass Express, credit union members will be able to seamlessly authenticate their identity using biometrics when doing an e-commerce transaction, visiting a branch, contacting a call center, or logging in to online or mobile banking – all with a consistent user experience. A pilot project with two initial credit unions is already in progress.
“We are very excited to work with Bonifii to bring Entersekt’s expertise in context-aware passwordless authentication to credit unions. The joint new solution leverages artificial intelligence to protect members from fraud by analyzing the context (such as identity, behavior, location, device, and channel) of each user journey in real time. This informs the most appropriate member authentication method that will be used, and means that members will now benefit from industry-leading authentication, while enjoying a fast and smooth user experience,” says Schalk Nolte, CEO at Entersekt.
Entersekt’s solutions have long been characterized by a strong, secure platform that becomes a springboard for innovative user journeys. The company has a strong track record with over ten years’ experience in financial services: its technology is used by numerous banks, payment processors, insurance companies and other financial institutions worldwide, securing over 1 billion events every month.
“Leveraging Entersekt’s vast expertise in this space, MemberPass Express provides credit unions with a revolutionary solution for authenticating members’ identities. It will bring members peace of mind when transacting, and offer them a very quick and seamless user experience,” says John Ainsworth, president and CEO of Bonifii.
“We are committed to creating a world-class experience while protecting the nation’s credit union members from becoming victims of fraudulent activity, and we believe we’ve done just that in MemberPass Express. The partnership between Bonifii and Entersekt is a game changer in streamlining the member authentication experience,” adds Barbra Lowman, president of CUNA Strategic Services.