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News and resources on digital identity, trust, biometrics and Secure Customer Authentication.

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Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

It is not a good idea to focus on everything

1

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

ID-wallets and AI-agents together. No-brainer by now?

1

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

ID-wallets integrating AI-agents - or the other way around?

1

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

ChatGPT beats me - hands down

5

New Industry Survey Report – Navigating the Nordic financial landscape: 2025 challenges and prioritiFinextra PromotedNew Industry Survey Report – Navigating the Nordic financial landscape: 2025 challenges and priorities

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Expert opinions

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

It is not a good idea to focus on everything

The world needs sound and strong political leadership more than ever before. For European leaders it means to: 1. Defend Ukraines freedom and once and for all stop Russian imperialism. 2. Take strong global actions against global warming. 3. Raise se the EU competitiveness and security by using the Trust infrastructure as a fundament for taking...

/ai /identity Artificial Intelligence and Financial Services

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

ID-wallets and AI-agents together. No-brainer by now?

My posts listed below probably describe the sun rising (a lot of repetition of course). The point being that ID-wallets are needed for security, trust, speedy adoption and getting legally binding deals - that only legal and natural persons can do. Newest on top. https://www.finextra.com/blogposting/28301/id-wallets-integrating-ai-agents---or-the-...

/ai /identity Innovation in Financial Services

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

ID-wallets integrating AI-agents - or the other way around?

Both directions are being explored right now, but they lead to slightly different futures. 🧠 1. ID Wallets Integrating AI Agents This means the wallet is the core product, and AI agents are embedded within it to assist the user. 📌 Examples: An AI assistant inside your digital ID wallet helps you decide which credentials to share

/ai /identity Innovation in Financial Services

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

ChatGPT beats me - hands down

Certainly improved my "Why AI Agents Should Have Identity Wallets" As AI agents become more integrated into workflows, services, and digital infrastructures, their trustworthiness and interoperability become critical. Identity wallets are the key to ensuring both. AI agents are of limited utility unless they can: Be trusted through veri...

/ai /identity Innovation in Financial Services

Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

Paradigm shifts with mobile devices

Mobey Forum was founded 25 years ago. We had a planning meeting today for the founders' panel discussion at the meeting hosted by UBS in Zurich in June. My input: In year 2000 we were working for a paradigm shift in banking – a joint effort between leading banks, VISA, Nokia, Ericsson, Motorola and many others to take payments and other e-bankin...

/ai /identity Innovation in Financial Services

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Bo Harald

Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

It is not a good idea to focus on everything

/identity

Research

Event Report

Risk-based authentication: Enhancing security and user experience in fraud prevention

In today’s rapidly evolving digital landscape, the importance of robust cross-channel authentication cannot be overstated. As businesses and consumers increasingly interact across multiple platforms, ensuring secure and seamless authentication processes is paramount.  Online platforms have become integral to modern financial activities, which necessitates secure and seamless transactions, backed up by robust authentication mechanisms. Risk-based authentication offers a dynamic security approach, balancing user convenience with stringent fraud prevention.  The integration of cross-channel data and advanced technologies like machine learning (ML) and artificial intelligence (AI) is vital, as well as access and understanding of data. High-quality data is the cornerstone of effective fraud prevention and detection, which is why organisations must invest in robust data engineering practices to ensure collected data is accurate and well-labelled.  This investment enables the development of sophisticated models to better identify and prevent fraudulent activities. Prioritising data quality enhances fraud prevention strategies, protecting businesses and their customers from potential threats.  So how can organisations holistically address risk-based authentication in a dynamic world? This webinar report summarises the discussion of a Finextra webinar, hosted in association with Mastercard, and explores:  Risk-based authentication in fraud prevention;  Adapting fraud prevention to evolving threats;  Advanced authentication strategies for corporate fraud prevention;  Digital IDs, channels, and exclusion. 

272 downloads

Event Report

AI strategies for scalable, secure and compliant banking

Delving into effective strategies and tools for secure and compliant AI integration in banking, emphasising the importance of open-source models, the role of generative AI, the advantages of synthetic data, and the influence of regulatory frameworks. Integrating AI in banking involves more than just adopting new technologies; it requires aligning these technologies with specific banking use cases to maximise benefits and mitigate risks related to data security and compliance. Open-source models facilitate this transformation by offering a collaborative platform for innovation and transparency, essential for building trust and ensuring the safe use of AI in banking.  The journey from proof of concept (POC) to production in AI and machine learning is often lengthy and complex. This extended timeline highlights the challenges organisations face in integrating AI into their operations. Embracing new tools and technologies and learning to utilise them effectively is crucial for overcoming these challenges and applying AI to day-to-day operations, leading to significant benefits in efficiency and innovation.  When looking at other markets, the United States has become a hub for tech giants, focusing on fostering innovation, while regions like Japan remain cautious, reflecting their unique regulatory landscapes and societal risk appetites. This diversity in regulatory approaches presents both opportunities and challenges for firms operating globally, necessitating a nuanced understanding of each market’s unique dynamics.  This webinar report summarises the discussion of a Finextra webinar, hosted with Red Hat, by a panel of industry experts. Discover:  How AI is enhancing innovation, efficiency, and security;  Synthetic data and regulatory impact;  What factors are holding organisations back from fully adoption AI-driven services;  Balancing innovation and regulation;  And more. 

332 downloads

Impact Study

2024 Fraud Trends in Banking, Insurance, and Beyond

How generative AI is boosting fraud protection in an increasingly complex environment. As technology progresses, so do the capabilities of institutions to secure data and systems. Over 2024, the fraud landscape has been complex, and organisations must push the boundaries of innovation while maintaining a high security bar as the availability and democratisation of AI increases as we're going into 2025. The tidal wave of incoming regulation in the financial sector is an aspect that will help banking and insurance companies to safeguard their customers and data in the best way possible. Yet regulation alone does not address fraud – it’s up to individual organisations to leverage the potential of technology, and review their solutions, processes, and thus ensure compliance and safety. As fraud and regulation increase in the space, technology is one of the key factors that will help banks and insurance companies to address these increased fraud risks. Generative AI enables organisations to deliver hyper-personalised customer experiences, and combining these capabilities with carrier network insights can not only help them significantly reduce authentication fraud, but also ensure regulatory compliance. This impact study, produced in association with AWS and Vonage, examines the current fraud landscape across financial services, banking, and insurance, highlighting how generative AI and network APIs can help prevent fraud while enhancing the customer experience. Explore: Fraud trends in 2024 The impact of regulation Why data is the new gold How organisations can innovate with generative AI Best practices

593 downloads

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FinextraTV

Fighting Fraud with Form3: The Importance of Inbound Transaction Screening

In Part 2 of this series, FinextraTV and Chris Oakley, Head of Fraud, Form3, highlights an upcoming substantial shift in the sector where due to incoming regulations from the PSR in the UK and PSD3 across the European Union, banks will have to double down on their focus on the risk associated with receiving a payment, not only sending a payment as has been the case historically. With current fraud screening methods built for outbound payments, after these regulations are mandated, receiving banks and sending banks will be forced to split liability for fraud and reimburse victims due to the PSR. This dichotomy must also lead to changes in the way that money mules are detected, which is usually also conducted retrospectively - where this convergence of fraud mitigation and anti-money laundering happens, risks need to be managed in real-time and a wider single view of the customer will be of paramount importance.

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Long reads

Sehrish Alikhan

Sehrish Alikhan Reporter at Finextra

What is Digital Company ID? CFIT’s blueprint for fraud prevention

The Centre for Finance, Innovation, and Technology (CFIT) has published a Digital Company ID plan to crack down on fraud and support UK businesses. CFIT led a coalition of over 70 organisations including financial institutions, government agencies, tech firms, policymakers, and academics, to develop and analyse Digital Company ID. According to the ...

Níamh Curran

Níamh Curran

Digital twins and the creepy consequences of data breaches

Data breaches are one of the scariest things we can encounter in real life. Receiving an email letting you know your personal information has been taken is much more frightening than the Necronomicon or the Babadook. Victims are left with a foreboding feeling of the unknown normally confined to horror films. Who has their information, and more impo...

Hamish Monk

Hamish Monk Senior Reporter at Finextra

What is digital identity?

Digital identity is the sum of online information on an individual. This can be any form of data associated with a person’s name – be it date of birth, address, email, or even social media posts and interactions. As such, digital identity can be thought of as an online avatar, representing the spheres of one’s personal and professional life. The c...