A New Approach to Authentication for a Cashless EconomyOntrack's Tom Wills Describes Next-Generation Approach
Knowledge-based authentication and passwords are ineffective, and a new, multidimensional approach is needed, he says in an interview with Information Security Media Group conducted in Singapore.
"I see new solutions around artificial intelligence and behavioral analytics-based biometric authentication methods emerging, which can help in minimizing false positives and false negatives," Wills says.
Security practitioners are enhancing their skill sets to be able to deploy these technologies to create a good user experience and ensure adequate security during transactions, he says. CISOs must make architectural-level changes in authentication methods, he adds.
In this interview (see audio link below photo), Wills offers insights on:
- Changing market demands for improved authentication that's easy to use;
- How CISOs need to leverage artificial intelligence and machine learning to detect threats;
- Securing cashless transactions using an innovative approach.
Wills, director at the consultancy Ontrack Advisory, is an expert in digital trust - the field of enabling trusted interactions between individuals, communities, enterprises and governments over multiple channels. For more than three decades, he has helped major companies, including Visa, VeriFone, Intuit, Wells Fargo and Bank of America, as well as start-ups to navigate and balance the often opposing forces of security and compliance with speed, usability and cost-revenue optimization.
Suparna Goswami contributed to this report.