Artificial intelligence (AI)

HID announces integration with Q2’s digital banking platform to help change how banking customers authenticate

As cyber threats continue to evolve, the need for robust authentication solutions in the banking sector becomes increasingly evident. Traditional methods, such as SMS OTP for banking transactions, are susceptible to compromise, posing security risks and operational challenges.

Recognising these issues, HID is proud to announce its integration with Q2’s Digital Banking Platform, via the Q2 Partner Accelerator Program. Q2 Holdings, Inc. is a pioneering provider of digital transformation solutions for financial services. Through this integration, HID aims to redefine the banking authentication experience, offering customers enhanced security without compromising the user experience.

Advanced authentication solutions

Bad actors are persistently seeking new ways to exploit vulnerabilities in banking platforms

Bad actors are persistently seeking new ways to exploit vulnerabilities in banking platforms, posing a significant threat to financial institutions and their customers. According to industry experts, up to 50% of all login attempts are fraudulent, highlighting the urgent need for advanced authentication solutions.

In response to these challenges, HID has integrated with Q2’s Digital Banking Platform to provide an end-to-end authentication experience tailored to banking customers in the United States.

Enhanced banking security with better user experience

HID’s application is pre-integrated through the Q2 Partner Accelerator Program. The Q2 Partner Accelerator is a program through the Q2 Innovation Studio that allows in-demand financial services companies who are leveraging the Q2 SDK to pre-integrate their technology to the Q2 Digital Banking Platform.

This enables financial institutions to work with these partners, purchase their solutions and rapidly deploy standardised integrations to the financial institutions’ customers. HID’s integration, composed of the award-winning HID Approve powered by the HID Authentication Platform, provides a highly secure yet smooth authentication process.

Fraud defence made simple—a seamless customer experience

The turnkey nature of the solution ensures quick time to market, but also provides an opportunity for financial institutions to easily customise the digital solution and prevent fraudsters from gaining access from the very beginning of the customer’s banking journey.

How does the HID approve solution work With Q2’s ecosystem?

On successful, the user is prompted to authenticate using the HID Approve mobile app

The process begins when a user attempts to log-in. On successful check of credentials, the user is prompted to authenticate using the HID Approve mobile app, which comes in the form of a push authentication notification. That same application then initiates the user to sign transactions.

A simple swipe (using a registered device) will allow access to the online banking portal or authorise a transaction — ensuring a delightful customer experience with added security.

Integration with Q2’s Digital Banking Platform

Here’s a few words by Lena Abdelahad, VP of HID Authentication: “HID is committed to offering solutions that go beyond traditional authentication throughout the end-to-end consumer authentication journey. We are excited about our integration with Q2’s Digital Banking Platform to offer best-in-class solutions and services to financial institutions.”

HID’s ecosystem of solutions ranges from identity verification to real-time risk management and fraud prevention, to phishing-resistant passkeys to replace passwords.

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