HID and Temenos Accelerate Passwordless Digital Banking — And Elevate the Customer Experience

Pre-Integrated Security Solutions to Accelerate Digital Transformation

Consumers have little patience for mediocre banking experiences. More than 60% have abandoned an online transaction due to problems verifying their identity, while roughly half of all digital banking customers walk away from their primary bank due to friction in the process. 

Today’s authentication experiences are plagued by insecure MFA flows and an element that no one seems to like but few organizations can seem to get rid of: passwords.

But what is the alternative? After all, digital identity verification requires complex, multilayered technologies. Financial institutions need ways to balance the need for airtight security with an experience customers can tolerate.

The good news? The pre-integrations that HID offers with banking ecosystems like Temenos make it easier to take advantage of top authentication and identity technologies — and build secure, frictionless banking journeys. Now, those technologies include a robust set of passwordless journeys that protect log-ins and transactions without slowing users down. 

In this article, we’ll explore these new technologies and explain how financial institutions can use them to improve the customer experience.

Building End-to-End Banking Solutions

Thousands of financial institutions and banks the across globe rely on the Temenos Banking Platform to provide a digital banking experience that’s scalable and user-friendly.

HID’s longstanding partnership with Temenos helps us deliver pre-integrated security solutions that protect the banking journey while shortening time to market. 

“HID and Temenos share many clients because our products are fully integrated with theirs,” Tony Coleman, Chief Technology and Innovation Officer for Temenos, commented in an interview about a stress test the company ran to measure the performance of our joint solutions. 

Now, Temenos clients can take advantage of new passwordless solutions that make authentication even easier. We’ll tackle those in the next section.

The Power of Passwordless

Passwordless authentication improves the user experience by removing a widely reviled (and hard to remember) element, namely the password. There are several different ways to implement passwordless flows, from emailed authentication links to SMS codes. Temenos clients can now take advantage of two new robust pre-integrated options.

1. FIDO Technology With Passkeys

Passkeys represent one of the most secure and broadly adopted passwordless technologies. Temenos now supports passkey log-ins for customers that use:

• Synced passkeys that don’t require users to re-enroll every time they want to access an account on a new device
• Device-bound passkeys that are issued to HID security keys or smart cards
• Device-bound passkeys that are issued to USB keys from other vendors

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2. QR Code Authentication With Scan To Approve for Secure Log-Ins

HID’s Scan to Approve workflow enables users to authenticate for login by scanning a QR code, not entering a user ID. This enables institutions to take advantage of the security guarantees of a private key signature that’s bound to a hardware device — while letting users access accounts without manually entering their log-in credentials.

Scan to Approve is now integrated into Temenos, and workflows are easy to customize. Options include: 

• On some log-in workflows, verification happens automatically when users scan the code
• For additional security, users may be prompted to explicitly approve the request — or provide an additional authentication factor like a PIN or biometric data

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A Preventive Approach To Fighting Fraud, on One Platform

The integrations from HID and Temenos encompass everything from identity verification to real-time risk management solutions. Through these solutions — and the powerful Authentication Platform that supports them — we offer financial institutions a one-stop shop for creating secure, customizable digital banking journeys.

Our end-to-end digital banking offering includes:

• AI-powered identity verification for streamlined digital onboarding
• A risk management solution that provides real-time threat analysis and mitigation
• A flexible Authentication Platform that offers phishing-resistant authentication flows to enable multi-factor authentication (MFA), passwordless and risk-based authentication while leveraging multiple technologies — including FIDO2, PKI, push-based authentication and biometrics — supported by multiple form factors 

Streamlining the Customer Experience While Maximizing Returns

The ability to offer a fast, personalized digital banking experience has never been more important. Customer expectations are high, while customer patience is low — and the institutions that get it right enjoy both faster growth and lower costs. HID and Temenos make it easy for banks to craft an experience that deepens their customer relationships and boosts their bottom line without compromising security.

Better performance, more scalability — discover the power of pre-integration with HID’s banking partnerships >>