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FIS has joined forces with information specialist Equifax to create OnlyID, a digital authentication solution that enables consumers to make secure transactions across multiple online accounts without passwords, reports Banking Technology‘s sister publication Paybefore.

OnlyID provides “a single, secure digital log-in,” consisting of the consumer’s thumbprint or another unique identifier. The two companies jointly offer the technology to financial institutions and e-retailers that participate in the OnlyID Network.

The network consists of authenticated consumers who use a universal digital representation of their identity to interact with businesses in the network, the companies say.

“Imagine if you no longer needed passwords to protect your digital identity because you had a unique, protected identifier that only you could use at the places where you bank and shop,” says Bruce Lowthers, head of FIS Payments.“OnlyID from FIS and Equifax brings the power of advanced authentication technologies to make consumers’ financial lives simpler while providing secure protection against fraud.”


Banking Technology Awards 2017 are now open for entry!

Know any innovative products, inspirational projects, skilled teams or visionary leaders that deserve a special recognition this year? Nominate them for a Banking Technology Award!

Deadline for submitting the nominations is 25 August 2017.

Banking Tech Awards 2017

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