Forbes | Prove CEO Rodger Desai: “Success of open banking hinges on optimal balance of security and CX”
In a recent article on Forbes, Rodger Desai, Prove Co-Founder & CEO, wrote about the challenges facing Open Banking implementation globally as well as how banks, merchants, and accredited service providers can ensure an optimal balance between security and customer experience.
Rodger: “It is beyond debate that consent-based sharing of financial data must be accompanied by strong security and data protection. At the same time, conservative authentication practices introduce friction in the process, thereby hampering customer experience. The potential negative impact of strong customer authentication (SCA) on consumer payments experience has been one of the sticky areas in PSD2 compliance in the EU.”
“Companies participating in the open banking ecosystem must ensure the secure exchange of financial information under all circumstances and yet make the experience frictionless for the consumer.”
Read the full Forbes article by Rodger Desai here.
To learn about Prove’s identity solutions and how to accelerate revenue while mitigating fraud, schedule a demo today.
Keep reading
Read the article: How Prove’s Global Fraud Policy Stops Phone-Based Fraud Others MissLearn how Prove’s Global Fraud Policy (GFP) uses an adaptive, always-on engine to detect modern phone-based threats like recycled number fraud and eSIM abuse. Discover how organizations can secure account openings and recoveries without increasing user friction.
Read the article: Prove Supports Safer Internet Day: Championing a Safer, More Trustworthy Digital WorldProve proudly supports the goals and initiatives behind Safer Internet Day, a worldwide effort that brings together individuals, organizations, educators, governments, and businesses to promote the safe and positive use of digital technology for all, especially young people and vulnerable users.
Read the article: Prove’s State of Identity Report Highlights the New Rules of Digital TrustProve’s State of Identity Report explores why traditional point-in-time verification is failing and how businesses can transition to a continuous, persistent identity model to reduce fraud and improve user experience.
