Fraud feels like one of the inevitabilities of our financial system - if we had a system that was 100% fraud free, it would be so restrictive and buttoned down that it would be almost impossible to use. And because we still rely on many antiquated systems to confirm the identity of customers, fraud continues to be a major problem.

Passwords persist as the dominant auth method despite their fragility, and newer, more promising auth methods like Passkeys championed by the FIDO alliance for a few years now are just beginning to take foot. WebAuthentication has added a lot of rigor to the security mix with biometrics, multi-factor, multi-device methods – but there are still gaps, and maintaining a customer-centric UX has been a crucial challenge to solve.

Enter knowledge-based authentication (KBA). Hear from Alloy CTO and co-founder Charles Hearn on how KBA integrates with diverse data sources, leverages AI and stays "a few step ahead" to provide accurate identity verification in financial services - one of the industry's most stubborn challenges.

Disclaimer: Converge is Convera’s new podcast that discusses a range of financial services topics. We want to remind our listeners that the information shared on this podcast is for informational purposes only and should not be considered financial advice. Please note that the opinions expressed on Converge are solely the opinions of the host and the guests, not Convera’s.

Tackling identity risk in finserv: Knowledge-based authentication and AI in the fight against fraud