Exchange network Bonifii and identity and customer authentication software Entersekt have teamed up to bring authentication technology to credit unions.
It will do this through MemberPass, which claims to be the first KYC-compliant, member-controlled digital identity issued by credit union cooperatives.
By adding Entersekt’s technology, members will have strong authentication that can be completed within ten seconds.
Credit union members can use MemberPass Express to authenticate themselves through biometrics when completing an e-commerce transaction, visiting a branch, contacting a call centre or logging in to online or mobile banking.
The joint solution will leverage AI to protect members from fraud by analysing the context, such as identity, behaviour, location, device and channel, of each user journey in real-time.
Bonifi president and CEO John Ainsworth said,. “Leveraging Entersekt’s vast expertise in this space, MemberPass Express provides credit unions with a revolutionary solution for authenticating members’ identities. It will bring members peace of mind when transacting, and offer them a very quick and seamless user experience.”
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