Finance and treasury professionals recognize the need for mobile online services and convenient options for managing their organization’s finances – without sacrificing identity security or privacy. The fiduciary responsibility of these roles requires mechanisms to ensure the protection of the company’s funds – at times on a massive scale. Whether an employee is dealing with purchase orders, compensating vendors, or paying your entire payroll, you need to be certain of who they are and whether they have the authority to make that transaction.
Corporate finance and treasury is large, complex, and may involve many people with differing responsibilities. By using IdentityX as a risk management tool that authorizes financial transactions, you can ensure that your funds are protected from fraud while enforcing your internal approval procedures. Furthermore, IdentityX biometric authorization introduces an entirely new class of non-repudiation. That is, this fraud risk management system can capture a photo and voice sample of the person as they authorize a transaction, providing proof that a given exchange mechanism (e.g., authorized payment) has occurred. IdentityX both blocks outside attacks and helps identify attackers, while at the same time empowering valid transactions by authorized users.
IdentityX can ensure that the authentication needed for different transactions scales up according to your own policies; therefore, there is no need to sacrifice convenience for low risk transactions, nor enhanced security for higher risk items. Small purchase orders can be configured to require only the entry of a PIN to approve. On the other hand, only the CFO or Treasurer might be authorized to approve major expenditures, and then only with enhanced security (perhaps within proximity of corporate headquarters (GPS checked), and only with full phone possession, PIN entry, and face and voice biometric matching).
By inserting IdentityX into the authentication procedure using its out-of-band approach, you can be confident that your company’s funds remain in your company’s hands. This is available not only while sitting in your office, but wherever you may be with your mobile smart phone. IdentityX offers easy-to-use security and privacy for your financial transactions, at your fingertips, anytime and anywhere.