September 19, 2016
CU Wallet member financial institutions will now have access to both Know-Your-Customer compliance and future-proof multifactor authentication technology.
WOODLAND HILLS, Calif. And KINGSTON, NY, September 13, 2016:
CU Wallet selected AnchorID to solve two important problems for financial institutions in the consortium; know-your-customer compliance and future-proof multifactor authentication. With the AnchorID solution, CU Wallet increases the range of credit unions it can serve with the accurate, effective, and well-tested AnchorID platform. CU Wallet’s selection of AnchorID is an example of their ongoing commitment to best-in-class security for every member financial institution they serve.
Access to a core processor can be cost-prohibitive and complex for small and mid-size financial institutions, said Paul Fiore, CEO of CU Wallet. AnchorID levels the playing field by providing Know-Your-Customer compliance and a suite of multifactor authentication products without requiring access to expensive core processor data.
The rapidly-changing world of advanced cyber security is an ongoing challenge for financial institutions of all sizes. Our proprietary platform solves the authentication problems of today and tomorrow by enabling access to new technology as it becomes available, allowing institutions to evolve with new innovations in the industry without losing investments in technologies that quickly become obsolete, said David W. Schropfer, CEO of AnchorID.
CU Wallet completed an extremely thorough review of AnchorID’s product and has already built, and tested, the interface between the CU Wallet and AnchorID. The AnchorID product works perfectly and will be an important part of CU Wallet’s platform.
CU Wallet is a leading provider of secure, white label digital wallet solutions headquartered in Los Angeles, CA. We work with best-of-breed technology partners to deliver an innovative, seamless, end-to-end consumer experience. CU Wallet enables more than 100 regional and community financial institutions to deliver a robust, self-branded suite of digital shopping and payments services to their account holders. For more information about CU Wallet, visit: www.cuwallet.com.
AnchorID invented and deployed an enterprise-grade multifactor authentication platform that allows any sized enterprise to easily authenticate user access to websites and mobile apps. Designed to meet the authentication challenges of today and tomorrow, AnchorID supports a long and growing list of cutting-edge authentication products with a simplified user experience and superior security while utilizing the smartphone for multi-factor and biometric authentication. AnchorID is based in Kingston, NY. www.AnchorID.com.