Offering an elevated level of security and convenience are expected by your corporate, brokerage and investment banking clients. Passwords and OTPs are insufficient, hardware tokens are cumbersome, and software tokens offer limited security.
News of token-based compromises are imposing new threats to the solutions that once provided industry-standard security. Suppliers today offer little in the way of product differentiation and value. Products needs to move at the speed of technology to continue being secure, accessible, and relevant.
As awareness of voice authentication increases, voice is quickly becoming the fastest growing form of biometric identity. Much of the appeal comes in its use on any phone and its flexibility over other biometric methods. In a world of static voice passphrases (e.g., “My voice is my password,) only SayPay's patent-pending “voice token” changes every time, so it can't be predicted, replicated, reused or replayed—unlike any other voice methods or biometric forms. Combined with validation of the mobile device, our streamlined 3-factor authentication solution goes far beyond other solutions.
Until now, the only method to thwart MITM attacks required manual processes that introduced delays and processing costs. SayPay’s cryptographically-created “voice token,” combined with speaking the out-of-band beneficiary identifier, protects against successful MITM transaction compromises. SayPay recalculates the SayPay token using the spoken beneficiary identifier to ensure the legitimacy of the voice token, the device, the user, and the beneficiary.