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Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

CIO

Digitalization is a double-edged sword for banks, especially when it comes to security. As financial services become more digital in nature, it’s important that banks think differently when using data analytics, security tools, and education to improve identity authentication and customer data privacy.

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Making Banking a More Effortless Experience

CIO

Along with nearly every other industry, banking is facing greater competitive pressure than ever. As banks continue to face this reality, they’re also tasked with addressing a variety of rapidly changing issues, including those surrounding data protection, adoption of cryptocurrency, and anonymizing data (AI models). .

Banking 327
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Bitwarden acquires Passwordless.dev to help companies authenticate users without passwords

TechCrunch

Open source password management platform Bitwarden has made its first known acquisition, snapping up a fledgling Sweden-based startup called Passwordless.dev , which specializes in helping developers integrate passwordless authentication technology into their software. Image Credits: Passwordless.dev.

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Ex-Plaid employees raise $30M for Stytch, an API-first passwordless authentication platform

TechCrunch

One such company, Stytch , just raised $30 million in a Series A round of funding as it launches out of beta with its API-first passwordless authentication platform. Lamb says that as she and McGinley-Stempel worked together at Plaid on user authentication, they realized how frustrating it is to build sign-up and login flows. “In

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TrueLayer raises $70M for its open banking platform

TechCrunch

TrueLayer , the London startup that offers a developer-friendly platform for companies, including other fintechs, to utilise open banking, is disclosing $70 million in new funding. TrueLayer, the open banking API provider, discloses investment and partnership with Visa. “We The Series D round is led by new investor Addition.

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Vyne raises $15.5M seed round to grow its merchant-focused open banking solutions

TechCrunch

Open banking — a new approach to payments and other financial services that disrupts traditional card-based infrastructure by linking directly into banks — is having a moment. TrueLayer nabs $130M at a $1B+ valuation as open banking rises as a viable option to card networks. million to help it grow.

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GenAI could make KYC effectively useless

TechCrunch

KYC, or “Know Your Customer,” is a process intended to help financial institutions, fintech startups and banks verify the identity of their customers. Not uncommonly, KYC authentication involves “ID images,” or cross-checked selfies used to confirm a person is who they say they are.

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