News

Partnership promises secure, streamlined digital ID for CU members

June 29, 2018

ThreatMetrix, a LexisNexis risk solutions company, and Lumin Digital, a cloud-based digital banking provider launched in April by PSCU, have forged an alliance dedicated to securing and improving consumers' online and mobile banking experiences.

Lumin Digital will offer credit unions and their members access to protected digital banking through the ThreatMetrix Digital Identity Network, which offers visibility into the true identity of online users versus fraudsters, according to a press release.

The technology integration will allow credit unions to move beyond simple device fingerprinting, and stitch together digital identities by analyzing the constantly changing relationships between individuals, their behaviors, locations and devices.

Credit unions and their members will benefit from improved account security and frictionless dynamic authentication with a recognition rate of better than 95 percent, the companies said.

"Prompting users unnecessarily for authentication is not only exasperating, but also encourages them to engage in risky behaviors such as choosing poor passwords or disabling security features," said Sean McElroy, chief information security officer at Lumin Digital.

"Through our partnership with ThreatMetrix, we will use intelligence from its Digital Identity Network to transform the ways in which users conduct online banking to ensure their information stays private and protected, but with more ease when logging in to accounts."