What Is Authentication in the Retail and Finance Industry?

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In the financial industry, fraud is a natural and ever-present challenge. Digital banking and international finance have only compounded this problem, and anti-money laundering and fraud laws in the U.S. have evolved to address these issues.

In modern times, the overlap of identity management, authentication, and identity assurance has led to more comprehensive forms of authentication. These verification forms can differ based on the customers, the jurisdiction or industry, or even the technology used to make a payment or secure funds. But, all forms of authentication are purpose-built to ensure that technological systems can resist unauthorized access to financial information.

 

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