Futurae Technologies AG

With phishing attacks growing 40% in 2023 and AI-powered deepfakes reaching new levels of sophistication, combining great UX and high security is more important than ever. A few days ago, Philippe, CEO, took the stage at the IN BANQUE event in Paris and, during his interview, addressed some critical insights on this topic: 🔓 Fraud doesn't just affect victims financially—it has serious psychological effects as well. For companies, the consequences include significant direct and indirect costs, and potential damage to their reputation. 🧩 The most effective approach to authentication is a modular one. By using an up-to-date authentication toolbox and adapting tools based on evolving needs, companies can stay ahead of threats. 👁️🗨️ Monitoring all user interactions across all channels is crucial for detecting fraud, and it's essential to ensure this is done in a privacy-preserving manner. Philippe's insights underscore the necessity of a proactive and adaptive approach in the fight against fraud. At Futurae, we're committed to developing solutions that strike the perfect balance between security and user experience. Our goal is to protect both individuals and businesses from the emerging digital threats that surround us. For more details on how we're shaping the future of digital security, stay tuned! #InBanque2024 #InBanque #DigitalSecurity #Fintech #Cybersecurity #Innovation #FraudPrevention #AI #Phishing Next Content

A recent survey by Sanction Scanner, encompassing insights from over 400 respondents across 50+ countries, reveals the top fraud and financial crime threats facing banks and other financial institutions in 2023. 💡 Here's what they found: 1. Identity Theft (42%): The leading concern that shows how important it is to have strong measures in place to protect identities. 2. Cyberattacks and Data Breaches (28%): Notable rise, with a 1,300% increase in ransomware attacks and a surge in phishing incidents. 3. Payment Fraud and Transaction Manipulation (19%): Persistent threats impacting financial transactions. 4. Insider Fraud and Collusion (11%): Internal threats that can be challenging to detect. 🛡️ Now, let's talk about how you can stay protected against identity theft: - Multi-Factor Authentication (MFA): Adds extra layers of security, making unauthorized access harder. - Adaptive Account Recovery: Utilizing signal-based and metadata scoring to detect and prevent unauthorized access by analyzing user behaviors and contextual signals. - AI-Driven Fraud Detection: Implementing AI systems for continuous monitoring and real-time anomaly detection. As financial crime threats become more sophisticated, it's crucial to verify that users are whom they claim to be. Let's not just stay protected but also stay vigilant and proactive. 💪 #BankingSecurity #IdentityTheft #FraudPrevention #CyberSecurity #FinTech #DigitalTransformation #AI #FinancialCrime

J-7 ! Delighted to join the In-Banque event in Paris to share our views and innovations in digital security for financial services users. With phishing attacks growing 40% in 2023 and AI-powered deepfakes reaching new levels of sophistication, combining great UX and high security is more important than ever.

Join us in welcoming Sofia, Software Craftsperson, and Raissa, In-House Counsel! 🙌 👀 Looking to make your mark? We’re searching for more bright minds to join our journey. Explore our current openings: https://lnkd.in/d3wbqvbs Welcome aboard, Sofia and Raissa – let’s innovate together! 🚀 #JobOpenings #cybersecurity #hiring #CareerOpportunities #NowHiring #TechCareers #engineering

Futurae was excited to participate in the European Identity and Cloud Conference 2024 hosted by KuppingerCole Analysts AG, where we had a week filled with 1:1 conversations with customers, partners, and industry representatives on how the digital identity landscape is evolving. Find here some learnings from our panel that addressed "Amplified Cyber Risks of AI Innovations”. 🧠 Useful Mindset: Understanding the attacker is crucial. Who are they, what are the risk scenarios, and what motivates them? This mindset helps in crafting more effective security strategies. 🏢 Corporate Attackers: Sandra highlighted that attackers can be large corporations with scalable business models to fulfil. Recognizing this helps in anticipating their tactics and preparing defenses, breaking their incentives. 🔍 Legacy Systems: Traditional systems often have difficulties addressing changing threats quickly enough and have a siloed view of data. There is an increasing need for a more integrated approach to better identify and mitigate risks in real-time. 🔧 Best of Breed Technology: Keeping up with the evolving threat landscape requires adopting the best adaptive building blocks. Staying ahead means continually updating and refining tools and modernizing approaches. 🔓 Biometrics Challenge: One of the unsolved industry challenges is that biometric data is non-revocable. The conversation evolved on how the defense can be diversified to increase the barrier further for criminals today and in the future. Let's keep pushing the boundaries of what's possible in digital security and identity verification. Together, we can create safer digital environments for everyone! #EIC2024 #Cybersecurity #Fraud #DigitalIdentity #AIThreats #Futurae #Innovation #TechInsights #DigitalTransformation #DataSecurity Sandra Tobler, Gaetano Mecenero, Cassidy Swafing, Mariya Dimitrova, Yvonne Hofstetter, Alen Horvat, Robert Lapes, Martin Kuppinger, Jennifer Stähler, Cindy Cerny, Christie Pugh

What a great conference with our great team in Berlin. Thanks for all the interesting discussions around identity and cyber security! 🔐 🙂 #EIC2024 KuppingerCole Analysts AG Futurae Technologies AG #CyberSecurity #FraudPrevention #FraudDetection #IAM #Authentication

🚨 Deepfake fraud in banking is on the rise! Deloitte predicts that fraud losses could skyrocket to $40 billion by 2027 due to generative AI. As technology advances, the risks associated with sophisticated AI-driven scams are becoming more pronounced. Here's what you need to know: 🔍 Key Highlights • Escalating Threat: Deepfake technology is evolving, making it easier for fraudsters to mimic voices and manipulate videos, creating convincing fake identities and challenging traditional banking security. • Impacts on Banking: Customer service interactions, KYC processes, and internal communications are particularly at risk. • Financial Impact: Potential financial losses and reputational damage are significant concerns for institutions. 💡 How Banks can protect Themselves and their Customers • Multi-Factor Authentication (MFA): Implementing MFA adds multiple layers of security, making it harder for deepfakes to succeed. • Adaptive Account Recovery: Utilizing signal-based and metadata scoring for adaptive account recovery helps in detecting and preventing unauthorized access by analyzing unique user behaviors and contextual signals. • Continuous Monitoring: Deploy AI-driven systems and log analysis for real-time monitoring and anomaly detection to stay ahead of fraud attempts. #BankingSecurity #DeepfakeFraud #Deepfake #MFA #DigitalTransformation #FinTech #CyberSecurity #AI #GenerativeAI

We are proud sponsors at the European Identity and Cloud Conference 2024, taking place from June 4-7 in Berlin! 🇩🇪 Join us for an insightful event where our team will be actively participating: 💬 Sandra, CCO, will be a speaker on the panel: "Addressing the Amplified Cyber Risks of AI Innovations" on Friday, June 7th, Day 4 of the event. This session will dive into the rapid advancements of AI technologies, such as sophisticated machine learning algorithms, and the new era of cyber threats they present. 👥 Gaetano, Cassidy, and Mariya will also be attending, representing Futurae and engaging in discussions, networking, and sharing our expertise in cybersecurity and digital identity. Don't miss this opportunity to gain strategic insights and practical tools to navigate the evolving digital identity multiverse! 🚀 We look forward to connecting with industry leaders and innovators at EIC 2024! See you in Berlin! For more information and to register, visit: https://lnkd.in/gkp6jR2C #EIC2024 #Cybersecurity #DigitalIdentity #AIThreats #EIC #KuppingerCole KuppingerCole Analysts AG #EID #DigitalID

Sandra shared the stage with the Swiss Federal Councilor Beat Jans and National Councilor Gerhard Andrey and Franz Grüter to discuss critical topics such as: 💡 Innovative participatory approach for the Swiss E-ID: Engaging citizens in the development process to build technology 🤖 Dangers: Addressing the risks of digital impersonation and ensuring the E-ID remains secure. How local technology innovators can address ever-changing threats and which limitations a state will face in building cutting-edge technology. 🧩 Practical examples: Where the E-ID can be beneficial and where the private sector is already more advanced with technology. Let's keep the conversation going involving all relevant parties! 💬 #DigitalIdentity #EID #Cybersecurity #Fintech #Futurae #Innovation #trust #Parldigi #security photo credits: Andreas Tölke Parldigi, Matthias Stürmer, Kristelle Plüss, Nik (Niklaus Samuel) Gugger, Daniel Saeuberli, DIDAS, Rolf Rauschenbach, Andreas W. Kaelin, Thomas Holderegger, et al

The Long Road to Passkeys: When Will They Become Mainstream? Here’s why passkeys are poised to replace passwords and what this means for businesses: ☠️ Cybersecurity Threats: Passwords are easily stolen, reused, or guessed, leading to significant security breaches. Over 9.5 billion passwords have been leaked since 2004. 🔑 FIDO Alliance: Leading the charge, FIDO Alliance aims to have passkeys supported by half of the top 1000 sites by 2026. ʜᴏᴡ ᴘᴀssᴋᴇʏs ᴡᴏʀᴋ: 🌐 Public Key Cryptography: Unlike passwords, passkeys use a public key on the server and a private key on the user’s device, activated via biometrics or possession-based authentication. 🔐 Enhanced Security: This method makes it significantly harder for attackers, who need physical access to the user's device to breach an account. ʀᴇᴄᴇɴᴛ ᴅᴇᴠᴇʟᴏᴘᴍᴇɴᴛs: 🎮 Major Adoption: Sony’s integration of passkeys for PlayStation 4 and 5 users marks a significant step. ☁️ Technological Advances: FIDO’s creation of FIDO2 and cloud management for private keys has streamlined the use of passkeys across devices, reducing barriers to adoption. ғᴜᴛᴜʀᴇ ᴏᴜᴛʟᴏᴏᴋ: 👩🏻💻 Consumer Expectation: As users recognize the convenience and security of passkeys, they will begin to expect this option. 📊 Business Advantage: Early adopters in e-commerce and content sectors, like PayPal and Shopify, have seen competitive benefits from passkeys. 💳 Sector-Specific Adoption: Industries like travel, hospitality, and airlines are next in line, while the banking sector, despite its slower pace, is expected to adopt passkeys by 2024-2025. Passkeys are not just a technological advancement; they are a strategic move towards a more secure and user-friendly digital future. Andrew Shikiar of FIDO Alliance envisions a future where passkeys become the norm, relegating passwords to the background. The transition might be gradual, but the destination is clear: a world where passwords are a thing of the past. Read more 👉 https://lnkd.in/dSWDZ45B #passkeys #cybersecurity #authentication #FIDO #FIDOAlliance #Fintech #FraudPrevention #Futurae