VASCO shows ‘selfie authentication’ app at fintech expo

Newswire: Feb. 8, 2017.

Dateline: London.

VASCO, a member of the Electronic Signature & Records Association, showcased its new “selfie-based” authentication solution at Finovate Europe 2017, the region’s annual expo for financial technology.

VASCO’s Smile & Sign solution is being built for financial institutions to incorporate into an existing banking app, allowing customers to quickly and more conveniently perform verified banking tasks, such as applying for or accessing credit, or other retail financing.

Where the user supplies an electronic signature and a selfie picture using the camera on a mobile device, VASCO on the back end deploys authentication, fraud analytics and secure communication technologies to validate the transaction before approval is made. Smile & Sign’s processes are captured in a legally binding way, and the app provides regulatory compliance and audit trails.

“Consumer desire for convenience, ease of use and anytime, anywhere transacting is driving organizations to take a mobile-first approach to business,” Scott Clements, the president and chief operating officer of VASCO, said in a statement. “Now organizations can adopt Smile & Sign to deliver that experience in a way that consumers want while delivering frictionless security in their mobile channels.”

Finovate Europe was held Feb. 7-8 in London. The next expo will be Finovate Spring, April 26-27 in San Jose.

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