Finacle partners Onegini, Samsung SDS, for mobile security and Mobile Banking

Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys, and Onegini has announced a partnership to integrate the Onegini mobile security platform with Finacle banking solutions.

The integration will allow banks to provide their customers enhanced security to access and transact across channels. Using this solution, banks can offer customers an option to select advanced authentication methods, including fingerprint, facial, eye and voice recognition as well as multi-factor authentication for added security as they transact on devices. The end-user will be presented different authentication methods depending on device, location and type of transaction.

Also in a move that is seen in the industry as complimentary, Infosys Finacle has also teamed up with Samsung’s services subsidiary in a new mobile banking partnership. Samsung SDS will be providing its FIDO (Fast IDentity Online) Authentication tool into the bargain, which allows banking customers to use the device of their choice and mobile application creators the ability to create device-agnostic services.

The use of FIDO, says Infosys Finacle, will also “help to advance and simplify micro payments and enable financial inclusion in developing markets where mobile devices are the dominant form of internet access.” Users of FIDO will be able to scan their fingerprints, use facial recognition technology and other forms of biometrics to complete payments and transactions.

Andy Dey, President of Customer & Operations at Infosys EdgeVerve, said, "A bank is no longer somewhere to go - you carry it with you. This offers a new level of convenience, but at the same time our customers demand secure solutions. Through this partnership, we aim to provide advanced security with convenience to customers."

According to him, “Customers are becoming far more accustomed to accessing and spending their money via mobile,” says Andy Dey, President of Customers and Operations at EdgeVerve, the parent company of Infosys Finacle.

“As such, financial services providers should be empowered with mobile solutions where they never have to choose between providing a good user experience and robust security.

EdgeVerve, he adds, wants to enable banking without passwords “wherein people can authenticate transactions by using flexible biometric options such as facial recognition and fingerprints.” The partnership with Samsung SDS and Origini are part of that vision.