In the increasingly complex realms of financial technology, mobile point-of-sale, and ecommerce, one event stands at the forefront of fin-tech innovations: Money20/20.
Held in Las Vegas, this year’s event brought together over 10,000 attendees and 500 speakers from companies around the world, covering trends in all things mobile, retail, marketing, data, and technology.
Data security takes center stage
One of the biggest topics at this year’s conference was cybersecurity. Identity fraud costs businesses millions every year, and new data breaches happen weekly. A session on “Solving the Identity Fraud Problem in Financial Services and The Case for the Insured Internet” was just as timely as it was informative.
The panel addressed the latest technologies — like biometrics, AI/machine learning, and fingerprint capabilities — aiding in fraud prevention and online security. Cybersecurity experts included Rick Echevarria, Intel’s own vice president of Software and Services; Mark Nelsen, Visa’s senior vice president of Risk Products; Ori Eisen, founder and CEO of identity-proofing startup Trusona; and security consultant Frank Abagnale, the world’s most notorious authority on forgery and embezzlement, as well as author of the semi-autobiographical book, “Catch Me If You Can.”
A holistic approach to cyber security
Another important Money20/20 session covered “Payments Security: Taking a More Holistic Approach” and dove into the changing environment of data security, identity theft, and fraud in a mobile-focused world. With real-time point-of-sale happening anywhere in the store, maintaining trust and security for online and brick-and-mortar transactions is of paramount importance.
Hosted by a panel of experts — including Michelle Tinsley, the director of Intel’s Mobility and Secure Payment division, and John Drechny, Walmart’s senior director of Payment Services — the session described how a holistic approach incorporates technical, human, and physical factors vital to the detection and prevention of cybersecurity vulnerabilities.
New product spotlight
There was a lot to take in at this year’s Money20/20 conference, but here are some of the key product demonstrations we’re most excited to see put into real-world applications:
- DPT for T Mobility Hub: By utilizing Intel’s DPT (Data Protection Technology) and IA-32 architecture, multiple point-of-sale devices can now share one mobility hub for improved data protection across a myriad of retail payment systems.
- 3D Secure with Visa: Using Intel’s cutting-edge Online Connect technology and SGX (Software Guard Extensions) hardware, Visa will offer enhanced security and improved UX without a password or PIN thanks to an integrated fingerprint verification system.
- China UnionPay Touch-To-Pay: Fingerprint authentication is the next big thing. With the simple touch of a finger, China UnionPay’s Touch-To-Pay system will offer simpler transactions, streamlined check-out processes, and stronger protection using Intel platforms and integrated fingerprint scanning hardware.
- BitPay CoPay Wallet: Back in 2009, Bitcoin reinvented the very definition of money with peer-to-peer cryptocurrency. And they’re doing it again. BitPay and Intel are working together to provide the first hardened BitCoin Wallet by utilizing Intel SGX and Intel PTD (Protected Transaction Display) technology to prevent the theft of private keys.
Intel offers an array of solutions for keeping your finances safe. Visit our financial services hub for more information on how you can secure your business today for the cybersecurity threats of tomorrow.