The information we want to keep private is increasingly at risk, but no-one wants that information protected by cumbersome passwords. FRANS LABUSCHAGNE, Entersekt country manager UK and Ireland, believes that the stage is set for large-scale biometrics.
As our world becomes more digitalised, the information we want to keep private is increasingly at risk – and yet no-one wants that information protected by cumbersome security measures which do not fit in with our pace of living. As such, the stage seems to be set for the large-scale adoption of super-convenient biometric technology, especially on the mobile. Different forms of biometric security have already begun working their way into the banking and payments industries; among these are face, fingerprint, iris, palm, vein and voice.
Everyone with a stake in digital banking security has been tracking the rapid developments in biometrics and debating the technology’s usefulness in the battle against cybercrime. There is little doubt that biometrics will play an important role in securing mobile services, particularly when viewed from the perspective of user convenience. But it is also fair to point out that biometrics can place enterprises and their customers at risk if deployed as the sole means of user identification and transaction authentication.
To effectively secure high-risk transactions, banks and other financial service providers need a strong base layer of security, such as that offered by Entersekt’s Transakt platform, to which biometrics can be added via a flexible plug-in as required for increased risk levels or improved user experience.
Unlike usernames and passwords, which we can change at will, we only have one set of biometric data. If this falls into hackers’ hands, it becomes of no use to us for authentication purposes. The consensus amongst industry experts, such as the FIDO Alliance, is that we must limit the exposure of our private biometric data by not sharing it, and keeping it instead locked down on our personal devices. Even then, our biometrics are still only as safe as the technology of our devices allows them to be. Devices can be rooted or jailbroken, and their owners often engage in risky behaviour.
Attackers have already figured out how to bypass many of today’s biometric solutions, and the fight for supremacy between financial service providers and hackers will only intensify over time. Biometrics can play a valuable role in user verification, but for the strong authentication of users and sensitive transactions, more than one authentication factor must be in place. The three possible factors are knowledge (something the user knows), possession (something the user has), and inherence (something the user is). This means that even so-called dual biometrics, which entails using, for example, both a fingerprint and a “selfie” for authentication, does not qualify as strong authentication, because both mechanisms are of the same factor.
Identity theft and account takeover strategies are increasing in sophistication and impact, making the balance between user experience and security more complex – and more challenging – than ever. As is proved almost daily, no single security measure will hold for long against persistent attacks from cybercriminals. It is only by layering cutting-edge technologies such as digital certificates with biometrics that an institution will be able to stand up to fraud.
Selecting an authentication solution that combines the highest level of protection with the lowest possible user friction will ensure that financial service providers meet regulatory requirements, as well as user demands, as industry changes advance from all sides.
Building Africa’s Century
The 4th industrial revolution will be on the agenda of this week’s Gartner IT Symposium in Cape Town. Doug Woolley, GM of Dell Technologies South Africa, ponders its meaning for Africa
Is this Africa’s Century, as President Cyril Ramaphosa said at the recent WEF on Africa gathering? I believe so. The event made solid headway in charting a course forward for African-centric solutions to our challenges.
Technology featured often in discussions and the 4th Industrial Revolution was a central theme. Many of the outcomes also tied to a more connected digital world. But those are the broad strokes. What happens next?
An important avenue can be found in all the individual investments made inside societies, such as broadband. The spread of connectivity is in part due to telecommunications firms being mandated by the Government to reach rural and under-serviced communities. But the major momentum behind broadband stems from demand. From individuals to enterprises, a hungry broadband market has helped South Africa become much more connected.
This paradigm applies to other technology investments as well. All of them add up to support the ideas and advancements that were discussed at WEF on Africa. The need for better services and performance through technology stokes the Fourth Industrial Revolution’s engine. Every network, every datacentre, every smartphone is a piece of the puzzle that will create Africa’s Century.
We are further along the curve than most people realise. If I can judge a country’s potential based on how digitally mature its organisations are, then South Africa is not in bad shape. Earlier this year, the annual Dell Technologies Digital Transformation Index ranked South Africa in the top ten, ahead of most developed nations. The investments made by the Public and Private sectors are taking root.
It may not make headlines, but all these individual ambitions pointing in the same direction are building the change we all want to see.
This brings me to the Gartner IT Symposium Xpo, the business-technology event taking place at the Cape Town International Convention Centre from 16 to 18 September. If WEF on Africa challenged for solutions at a high level, then the Gartner Symposium is where those individual investments come into play.
The nitty-gritty of the 4IR era will be on the Symposium agenda. Research by World Wide Worx on the uptake of 4IR technologies among South African enterprises will be presented tomorrow (Tuesday) by one of the company’s data analysts, Bryan Turner.
I also anticipate discussions about multi-cloud. Cloud has grown tremendously as African organisations saw the progress that came with investing in it, connectivity and data – the core ingredients of the 4IR era. Now they are looking ahead to what can be done next: that multi-cloud is on the agenda shows how Africa’s technology capability is growing.
Unified workspaces will be another good conversation topic. What happens in the office doesn’t stay in the office. Our technology habits follow us home and, more often, our home habits follow us to the ofﬁce. This makes perfect sense, because 4IR is primarily about people being empowered by technology. Our workplace technology habits are microcosms of our overall use of technology.
Multi-cloud is the ‘infrastructure’ of the 4IR conversation and the workplace is where these technologies deliver some of their value. Considerable buzz is growing around unified workspaces, which make office environments more manageable and secure while reshaping them to fit the needs of modern employees.
Stop by the Dell Technologies stand and see how we’re helping create that momentum with multi-cloud, unified workspaces and through many other channels, including skills development and supporting SMMEs to grow.
How do we create Africa’s Century? Through those individual investments that collectively stoke the engines of our country and continent. It’s not just for the big players: 4IR can provide for every organisation regardless of size. Those investments are investments in the future of Africa.
PayPal pictures how the future will be won – or lost
By AAYUSH SINGHANIA, director of Commercial Operations for PayPal Cross-Border Trade Markets
There’s no doubt that technology has already re-shaped the way the world thinks about buying and selling. Who would have thought twenty years ago that people would be shopping on their phones?
Despite the huge changes to the shopping experience in recent years, it’s important to understand that we are only part-way through this journey. We are in the midst of the fourth industrial revolution, and as technologies continue to advance, and we as a society adapt our behaviours, new opportunities and risks will present themselves to merchants of all sizes.
Here is where I see the future of commerce being won and lost, as we continue on this technology journey:
Meeting ever-increasing demand for personalised experiences
We’ve already witnessed the transition of commerce from brick and mortar to the web, and then from the web to mobile. The next phase of internet-connected devices will make commerce even more contextual whereby anything you can interact with can be a platform for commerce. Imagine being able to point your phone at your best friend’s shoes, and almost instantly they are in your shopping cart, ready to be delivered to your home?
Mobile has already made shopping an “all the time” activity and has given us a taste of what it’s like to have hyper-personalised experiences. While a consumer walking into a retail store is limited by physical space, the online world offers an unlimited shelf for merchants to deliver tailored customer experiences. Looking ahead, innovations in artificial intelligence and machine learning hold great promise to further deliver on this hyper-personalisation, by being able to learn about who a consumer really is as a person and their individual preferences.
As a result of this evolution, customers have moved from being surprised and delighted by personalised experiences to expect them in every context. Many customers, for example, now get frustrated when they receive advertisements for products that they’ve already bought, or have no interest in. This shift has made it critical for merchants to avoid delivering homogenous experiences to shoppers who demand personalised interactions across all contexts. In doing so, it’s important that merchants find a balance between personalising their offerings and ensuring consumers don’t feel their privacy is being invaded. Shoppers want to feel like a brand understands them, but isn’t stalking them, particularly in the wake of several high-profile data breaches.
Closing the consumer fulfilment gap to deliver seamless experiences
With new advancements in technology comes the ability to create seamless customer experiences that narrow the gap between customer desire and fulfilment. Gone are the days where shoppers decided to purchase an item and they were happy to wait a week to receive it – for many, two-day shipping still isn’t quick enough. The invention of the internet meant people could shop from home, and recently we’ve seen this evolve further where consumers prefer to shop on-the-go via mobile.
The big question is, what’s next? We’re already seeing the growth of commerce through technologies like AI-enabled voice assistants and virtual reality, so it’s critical that merchants keep pace with innovations that enable them to close the gap between desire and purchase in a delightful way.
At the end of the day, businesses need to remember that the act of filling up a cart and the process of checking out is not the fun part of making a purchase – these are points of friction – and technology is the answer to removing these frustrations for customers.
Managing customer reactions to technology disruption
Every tech disruption in its early days delivers excitement, fear, anxiety and doubt – not necessarily in that order. We all go through a phase of tech humanisation, because technology grows as we do – and we help shape the development of new solutions.
Technology has been used for good and bad, and technology that causes eye-raising experiences at the start will generally normalise in time. Remember the first video cameras on phones? As people learned how to use the technology, content got posted that shouldn’t have. Everything from the telephone, to radio and the television all caused concern and were initially criticised when first introduced to the public, but with time they’ve become part of our everyday lives. As technology evolves, companies learn from it, and the acceptance and humanisation of technology will take place for both consumers and merchants as new innovations are applied to the world of commerce.
Merchants need to have a mindset that’s focused on being a customer champion, while recognising that customers need to adapt to new technologies in their own time. To do this, businesses must leverage technology to build the right features that aren’t intrusive, but geared towards helping people, and respect the customer’s choice to turn technology on or off.
Technology innovation will continue to re-shape commerce in the years ahead, with the potential to deliver new growth opportunities for merchants, and offering customers more choice, convenience, value and instant gratification. In a broader sense, these innovations can also help promote employment by breaking down traditional barriers to buying and selling. For merchants, the opportunities will arise, they just have to know how to take advantage of them in the right way.