First on stage for day two of Finovate, IDology showed how it can use customer transaction data to authenticate users:
"Our new product, ExpectID Enterprise, is the next generation of knowledge-based authentication and allows businesses to present custom, out-of-wallet questions to consumers using their own data. Banks are able to leverage IDology's SaaS solution to generate out-of-wallet questions from their internal proprietary customer transactional data located behind their firewall and without ever having to share that data with us.
This allows banks to replace their shared secret questions (What is your mother's maiden name?) with a higher security model that isn't compromised by social media. ExpectID Enterprise helps banks meet FFIEC compliance guidelines while creating a safer authentication method on high-risk transactions."
Product Launched: February 2011
HQ Location: Atlanta, GA
Company Founded: 2003
Finovate demo video: finovate.com/fall12vid/ (demo video will be posted next week)
Introducing John Dancu (CEO) and Chris Luttrell (VP Product &