MIAMI, May 31, 2019 /PRNewswire/ -- Unisys Corporation (NYSE: UIS) today announced it will present at Fintech Americas 2019 to discuss the opportunities that embedded banking presents for the financial services industry, including ways that banks can integrate banking, loan and payment functions into popular consumer applications. By removing friction from traditional processes in this way, financial institutions will be able to deliver a seamless customer experience, while advances in identity management can ensure they establish a strong security posture amid the rapid pace of transformation.
Maria Allen, vice president and global head of Financial Services, Unisys, will be featured as part of a panel discussion along with David Estevez, CIO of Grupo Petersen and Daniel Kennedy, vice president of digital banking for Scotiabank to discuss how the digital transformation of financial institutions is changing the experience and expectations of customers, and how advances like open banking have opened the door to many services that a bank might not have been able to previously offer. The discussion will also tackle the cybersecurity risks posed by the changes and the important role of a Zero Trust model for future success.
"The rapid pace of change facing the banking industry today is disrupting the bank's traditional 'grip' on the consumer," said Allen. "Today's consumers have many options, but advances like embedded banking enable digital banking services to be delivered in real time, when and where the customer needs it. It's about removing friction from traditional banking processes – enabling people to conduct transactions from any device, at any time – to provide a better customer experience."
The discussion will also center on the need for banks to be aware of the cybersecurity risks they face as they adopt new technologies like voice-based artificial intelligence and take proactive steps to establish a Zero Trust approach to security to ensure the protection of systems, data, and customers, since perimeter defenses are no longer sufficient to respond to today's threats.
"Zero Trust is a hot topic today. Like many new terms, it can mean different things to different companies. At Unisys, we believe a Zero Trust approach is founded upon the idea that no user or device – inside or outside the private network – should be trusted and organizations should grant as little access as possible upon reliable identification," said Allen. "A 'trusted identity' approach is necessary because interconnectivity with partners, vendors and customers means that sensitive data must be protected across multiple touchpoints. Fortunately, advancements like multimodal biometric authentication, including things like voice recognition and iris scan, and behavioral biometrics like typing speed can be deployed to verify user identity across channels."
By leveraging identity-driven access technology, banks and financial institutions can realize a Zero Trust security model to counter the systemic risks that embedded banking introduces. Connections with vendors and partners can then be made with confidence, and the full benefits of open banking can be realized.
Unisys helps financial institutions achieve digitalization with Elevate™, an end-to-end, digital banking software platform and suite of applications designed to help them deliver an instantly secure, omnichannel banking experience to their customers. Elevate is secured with Unisys Stealth®, which features dynamic isolation™ capabilities to quickly isolate devices or users at the first sign of compromise. Stealth™ reduces attack surfaces through identity-based microsegmentation, allowing banks to microsegment and conceal critical assets and establish encrypted channels for secure user, application and system communication.
More than 450 financial institutions worldwide rely on Unisys solutions. For more information on Unisys' financial services capabilities, please click here.
Unisys is a global information technology company that builds high-performance, security-centric solutions for the most demanding businesses and governments on Earth. Unisys offerings include security software and services; digital transformation and workplace services; industry applications and services; and innovative software operating environments for high-intensity enterprise computing. For more information on how Unisys builds better outcomes securely for its clients across the Government, Financial Services and Commercial markets, visit www.unisys.com.
RELEASE NO.: 0531/9682
Unisys and other Unisys products and services mentioned herein, as well as their respective logos, are trademarks or registered trademarks of Unisys Corporation. Any other brand or product referenced herein is acknowledged to be a trademark or registered trademark of its respective holder.
SOURCE Unisys Corporation