Don’t forget about the user when adding security: A report from Money20/20 2018
Money20/20 is always a special event. Surrounded by the wonderful madness of Las Vegas, the great and the good of the financial world descend to discuss serious topics that will shape the industry in the years to come.
Identity was one of the early themes to merge from the show. Conference tracks on the Sunday were dedicated to the subject – with the always insightful Dave Birch reminding everyone not to digitise existing forms of identity but to create truly digital identity.
It was a point the show organisers may want to take on board for next year. Adding a second factor identification for entry into the event makes sense - just relying on a show badge doesn’t give much security. Anyone working in the authentication space knows a single “what I have” factor is very weak security. The trouble was adding a second “what I have” factor didn’t go down well with attendees – no-one Inside Secure spoke to was happy with wearing a cotton bracelet for four days solid.
Adding a different factor (e.g. a “what I am”) would have given better security and would probably have caused less friction with attendees.
Inside Secure knows from developing its own Strong Customer Authentication solution the importance of always maintaining a slick user experience, even when adding layers of security. In fact, Inside Secure use security to improve the user experience.
The second theme to merge that was close to Inside Secure’s hearts was Mobile Point of Sale. It was heartening to see a wide range of vendors (from established POS terminal manufactures to start ups) demonstrating their innovations in this space.
The emerging PIN-on-Glass and Tap-to-Phone standards may initially appear simply as a way of changing the form factor of traditional POS terminals – reducing the costs; but the real excitement comes from allowing new and improved customer interactions.
Similar to Dave Birch’s ID advice, the true value of mPOS comes when we start doing new things only possible in the new form factors.
For both ID and mPOS, Inside Secure’s software security products, can underpin the innovation. Enabling you to focus on creating new and exciting products, safe in the knowledge that the security is taken care of.