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You're very right, although that method of authentication (known as "Knowledge Based Authentication" or "Out of Wallet Questions" more specifically) is highly i
by tommynicholas 10y ago
You're very right, although that method of authentication (known as "Knowledge Based Authentication" or "Out of Wallet Questions" more specifically) is highly ineffective. Users can't answer the questions reliably, hackers can reliably steal the info. Look for that method to be entirely out of the industry within the next 5 years. There are better ways.
- dopamean 10y agoI'm curious. What are the better ways?
- tommynicholas 10y agoFirst of all, basically any way is better than Out of Wallet Questions because they don't work on both ends. They don't really prevent fraud and most legit people fail them. Better techniques involve data / device triangulation, lighter weight Knowledge Based Authentication via data matching, and deeper fraud scoring to detect potentially stolen identities. It takes a real strategy and real time to implement something that actually works which is why many people just default back to OOQs but that will change.