Enhanced Security
- Multi-factor authentication integrating biometric, possession, and optional knowledge factors.
- Innovative biometric binding that prevents unauthorized access.
Wire Fraud Prevention
Protect Your Financial Transactions with Trust Stamp's Advanced Wire Fraud Prevention Technology
Wire transfer fraud is a growing challenge to the financial sector, causing substantial financial losses and eroding client trust in banking systems worldwide. Traditional security measures like knowledge-based authentication (KBA) and one-time passcodes (OTPs) are proving increasingly ineffective against advanced phishing and social engineering tactics. Trust Stamp offers a privacy-preserving authentication solution designed to secure wire transfer processes against unauthorized access through advanced multifactor authentication.
Secure Your Transactions Now
addressing key challenges
The Problem: The Growing Threat of Wire Transfer Fraud
With the increased use of digital banking, wire transfer fraud has become more sophisticated and harder to trace. This type of fraud significantly impacts financial institutions and their clients, leading to direct financial losses, reputational damage, and diminished customer trust. The speed and irreversibility of wire transfers add to the challenge, making it nearly impossible to recover funds once a fraudulent transaction has occurred.
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Stable IT2 Technology: A Revolutionary Multifactor Authentication Solution
Trust Stamp's Stable IT2 technology offers a groundbreaking multifactor authentication solution designed to enhance the security of wire transfers. By integrating possession (something the user has), biometric (something the user is), and optionally, knowledge (something the user knows), Stable IT2 provides a robust defense against wire fraud.
Biometric Binding
Securely links authentication credentials to unique biometric traits like facial recognition, ensuring identity verification is directly tied to the individual and surpassing device-based or knowledge-based security.
Privacy-Centric
Trust Stamp’s biometric tokens use biometric-cryptographic techniques to create secure, temporary representations of credentials without storing sensitive biometric data, enhancing security and respecting privacy.
THE TECHNOLOGY
Stable IT2 Features & Benefits
Privacy-Centric Compliance
- Eliminates the need to store sensitive biometric data.
- Adheres to global privacy regulations, including GDPR and CCPA.
User-Friendly Experience
- Seamless and quick biometric verification process.
- Easy integration into existing security frameworks.
Comprehensive Fraud Detection
Advanced Presentation Attack Detection and Liveness Detection to thwart fraud attempts using deepfakes and voice spoofing.
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Secure Your Transactions Today
Trust Stamp’s multi-factor authentication significantly advances wire transfer fraud prevention, offering financial institutions a powerful tool to safeguard operations and client assets. Adopting Trust Stamp's technology allows banks and financial entities to enhance transaction security, maintain system integrity, and restore client trust in digital banking.GET IN TOUCH
RESOURCES
Get the Trust Stamp’s Wire Fraud Whitepaper
Download our comprehensive whitepaper for an in-depth look at wire transfer fraud and Trust Stamp’s innovative solution.
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