As online banking become the norm, consumers’ ability to access and use financial services at any time, from any location is increasingly widespread. With this comes the expectation that such services should be more convenient and secure.

Indeed, one of the great challenges for banks is how they can reduce the complexity of authentication methods whilst reducing fraud. Nonetheless, as engines of growth to the digital economy, the ease and security of financial transactions will be crucial for all sectors seeking to make the most of the digital opportunity.

Mobile Connect, the operator-led digital identity solution can assist banks with supporting the growth of the digital economy by enabling secure, trusted and convenient log-in. Banks can make use of Operators’ unique attributes, such as location, for seamless and secure data verification at home or abroad. As well as enhancing the user experience, this will also lower banks’ operating costs significantly, as 30 per cent of support calls are related to forgotten user names or passwords.

To discover how Mobile Connect can be integrated with banks’ existing security architecture, please email mobileconnect@gsma.com

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