Wibmo launches Tridentity, a multi-factor authentication solution
By Leandra Monteiro
Consumers today are always on the go and expect everything to be done quickly. Failure or delay in SMS delivery is inconvenient for end customers. A biometric, push notification or offline OTP on the other hand, is an easy and fast medium to authenticate the transaction and complete it securely resulting in customer delight.
Against this backdrop, Wibmo, a provider of business-critical digital payment solutions, has launched its latest service– Tridentity- an out-of-band multi-factor authentication solution. Tridentity integrates with mobile banking apps. The solution offers authentication methods such as offline OTP, push notifications, biometric. The Solution can be integrated as SDK to perform uniform authentication for digital payment channels.
Wibmo’s Tridentity is a next-generation multi-factor authentication solution, which offers the perfect balance between the convenience that the consumers need and the security that banks and regulators require. The innovative solution allows much more than just OTPs, improving consumers purchase experience and fast track purchases. Tridentity offers both iOS and Android support.
Banks are always looking for ways to provide a seamless consumer experience with frictionless transactions. Tridentity combined with Trident, Wibmo’s Fraud and Risk Management platform, creates an experience that combines Risk assessment, authentication security delivering a payment experience that is unmatched in industry.
Tridentity’s ambit not only helps on payment transactions but adds to multiple use-cases such as adding beneficiaries, funds transfers, bank account login, etc making it simpler and more secure than ever before with the multifaceted solution.
Speaking on the launch, Suresh Rajagopalan, CEO, Wibmo said, “The security challenges with SMS delivery, abandoned carts, and low success rates have been intrinsic of the SMS OTP model since its inception. It is a time when consumers want convenience as well as speed and security; if SMS delivery fails or is delayed, the consumer’s experience is impacted.
With Tridentity, this is the very issue that Wibmo aims to address. Now, consumers can seamlessly authenticate for all payment channels using an array of customizable solutions. We believe, Tridentity will unlock the next phase of evolution within the identity verification space and change the way we access and authenticate transactions.”
SMS is expensive in many countries, and the dependency on SMS for OTP delivery to authenticate a transaction is a costly affair, even in India, the cost of Priority SMS has increased. Ironically, sometimes the cost of SMS is more than the cost of transactions. This is, therefore, an opportune time for companies to move away from SMS-based OTP. Tridentity’s solution offer both cost-saving and improved customer experience.
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