Dave Gordon is Chief Product Owner - Digital Banking at Nationwide Building Society, the world's largest building society and a mutual financial institution. His focus is on creating a seamless customer experience by unifying the diverse authentication methods across Nationwide Building Society's various channels. Mitek spoke with him to gain his perspective on how biometrics can be used to improve the company’s authentication process.
Q: What is the biggest threat to account takeovers?
David: Social engineering is the biggest threat to account takeovers at Nationwide Building Society. Social engineering is when someone tricks a user into giving them their personal information or clicking on a malicious link.
Q: How can biometrics help against account takeovers?
David: Biometrics can help against social engineering and account takeovers by providing a more secure way to authenticate your identity. There are a number of different biometric modalities, including facial recognition, behavioral biometrics, and voice recognition.
Q: What is the best biometric modality?
David: There is no one-size-fits-all solution for biometrics. The best biometric modality for a particular application will depend on the amount of risk and the type of transactions or services being offered. For example, facial recognition might be a good choice for a high-risk application, such as banking, while voice recognition might be a good choice for a low-risk application, such as logging into a social media account.
Q: Why is it important to have a combination of biometric modalities?
David: A combination of biometric modalities is crucial for enhanced security, especially against sophisticated attacks. Facial recognition confirms the user's identity at a glance, while behavioral biometrics analyze their unique interaction patterns with the device, making it difficult for imposters to mimic. Voice biometrics add another layer of protection by recognizing the user's distinct vocal characteristics. This multi-layered approach creates a stronger barrier against unauthorized access, as any attempt to breach the system would require replicating multiple unique biometric traits.
Q: What is Nationwide Building Society doing to improve their authentication process?
David: We are partnering with Mitek to revolutionize our authentication process. By implementing a new biometric authentication system, we aim to consolidate authentication across all digital channels, enhancing both security and consistency for customers. This strategic move not only addresses outdated authentication methods but also positions Nationwide Building Society at the forefront of customer experience, leveraging biometrics to offer seamless and secure interactions across all our digital platforms.