FRICTIONLESS AUTHENTICATION

Delight customers with a new-age banking

experience without passwords
 Fintech, innovation and banking
The Fintech revolution is being led almost exclusively by innovations that promise to do only one thing, but better than anyone else.
Fintech innovators are essentially modularizing the banking business down to its building blocks and then creating elegant, innovative, and
customer-specific solutions focused on specific banking functions.

Hence, in this age and time, a truly digital banking model is defined by the following foundational values:

• Customers must be the focal point of the model

• Every aspect of the model is based on a data driven insight.

• A significant degree of automation must be achieved across processes, applications, and channels, to ensure a consistent and relevant
customer experience.

• The focus should shift from building monolithic institutions to creating collaborative ecosystems.

• Security must become a critical component of a truly digital banking experience.

Also, banks realize hard facts like:

• An average corporate user maintains close to 15 passwords.

• On an average, 10% - 30% of help desk efforts are spent on password resets.

Keeping these trends and facts in mind, banks are looking to cater to the new-age customer with a banking experience without passwords.
Banks will no longer need to walk the tight rope between increasing the security and providing good customer experience.

2 I External Document © 2017 EdgeVerve Systems Limited

 Edgeverve digital authentication
The Edgeverve digital authentication
solution offers a frictionless, intuitive
and secure banking experience to retail,
corporate and SME customers. The solution
delivers the seamless experience on a
variety of mobile platforms, devices, and
access modes. The solution enables your
institution to delight customers with
a broad range of differentiated service
capabilities such as QR code / touch
ID / facial recognition based biometric
authentication. Personalized onboarding,
3 I External Document © 2017 EdgeVerve Systems Limited
mobile remote deposit capture and
withdrawal can also be facilitated through
this authentication mechanism.
Edgeverve digital authentication is
provided as a simple deployable solution
around the existing bank infrastructure. It
is built to work across all access points such
as laptops, desktops, tablets and mobile
devices.
It is provided in two variants to suit the
bank’s needs: a standalone solution
presented in a layer around the existing
online application and mobile banking
apps or as an integrated offering which can
plug into the Finacle omnichannel hub and
support any associated app / application.
With this solution, you can support your
customers’ entire banking journey, right
from onboarding to managing entire
businesses, on the mobile device of their
choice. The solution comes as a pre-
configured ready-to-deploy offering to
ensure rapid launch with minimal upfront
investment in time, effort, and resources.
 Bridging digital authentication and seamless banking

A bank can enable the following scenarios

(login / transaction approval / dashboard
viewing / corporate report viewing) for various
user segments (retail / corporate / SME users)
with the EdgeVerve digital authentication
plugged into the existing banking system

Customer support care of a bank can

authenticate customers with digital
authentication, outside of their traditional
personal identifier questions and customer
support agent based manual authentication
mechanism

Corporate users of a corporation’s bank account

can manage transactions at remote locations
through remote login authentications which do
not involve an OTP and password

Wealth management clients of a bank can

authorize transactions to relationship managers
via remote digital authentication as compared
to a traditional phone conversation or in person
approval.

4 I External Document © 2017 EdgeVerve Systems Limited

 For banks which offer the Youth banking
solution, the transaction initiated by a young
user can be easily authenticated without
passwords by a parent / guardian

Banks can now create workflows where

the existing user details are automatically
populated for the new account creation or
other cross sell opportunities through digital
authentication as a primary identifier and
authorizer, thereby creating a truly digital
account opening and cross selling option for
the bank.

Corporate multilevel authentication, where

transactions which require multiple level of
approvals is quickly closed out with digital
authentication as compared to the traditional
password based authentication

A bank can allow ATM withdrawal based on

touch ID / eye scan based authentication
instead of the traditional routine of card swipe
and the typing in of PIN / OTP.

5 I External Document © 2017 EdgeVerve Systems Limited

 Key features
Secure and intuitive banking experience
The EdgeVerve digital authentication
solution provides the base for a secure
and intuitive banking experience without
the need for a password / OTP based
authentication.

Leverages user’s existing infrastructure

The solution leverages the end user’s
existing mobile phones to provide
multifactor / multilevel authentication,
thereby reducing the need for the bank
to invest in additional infrastructure to
facilitate the use of digital authentication.
The inbuilt integration services facilitate
the seamless functioning with existing
infrastructure.

Simpler deployment to deliver

exceptional experience across devices
Built leveraging the latest client-side
technologies, the solution provides a
simpler deployment for technology
teams at banks to implement digital
authentication without impacting the
existing infrastructure.

Easy provisioning for user administration

and access configurability
The EdgeVerve digital authentication
solution enables banks to efficiently
provision user administration and access
configurability. The burden of security
calls and authentication processing on the
existing banking systems is reduced with
the EdgeVerve digital authentication.

Advanced security
The solution addresses all aspects of
banking security at the application
level. Features such as multifactor and
transaction based authentication help you
deliver a secure banking experience across
channels.

6 I External Document © 2017 EdgeVerve Systems Limited

 Workflow for digital authentication onboarding as a stand-alone app

12:30 12:30 12:30 12:30 12:30

Authentication Channels Authentication Channels

EV Auth
You can enable the following You can enable the following
needs access to
authentication channels. authentication channels.

Identity AUTH AUTH

John Williams Doe
Username
john.doe@edgeverve.com Fingerprint access
Contacts
john.doe Notification Fingerprint Notification Fingerprint
Enable access to
Enter One Time Password (OTP)
Location fingerprints.
OTP has been sent to your mobile ******8450,
please enter the same
Fingerprint
Password DECLINE ACCEPT

Camera OTP Enable Iris Enable Face Enable Iris Enable Face
Resend OTP 00:29
Microphone LOGIN

Wi-Fi connection Information SUBMIT

QR Code QR Code
Other

ACCEPT

The app installation The digital An OTP is used for Different channels Fingerprint access
is simple! authentication app onboarding validation for authentication is recorded
is launched
12:30

Authentication Channels

You can enable the following

authentication channels.

Fingerprint access
Fingerprint access
Notification Fingerprint
enabled

DECLINE ACCEPT

Enable Iris Enable Face

QR Code

On recording, fingerprint The eye scan is Eye scan authentication Face is scanned Facial authentication
access is enabled a recorded is now enabled and recorded is now possible!

Workflow for digital authentication onboarding when integrated within the app

7 I External Document © 2017 EdgeVerve Systems Limited

About EdgeVerve
EdgeVerve Systems Limited, a wholly owned subsidiary of Infosys Limited, defines, develops and licenses innovative software products
and cloud hosted business platforms. We focus on driving revenue growth, cost effectiveness and profitability for global corporations
and their business ecosystems across across the world. Visit www.edgeverve.com to know more about our innovations in banking,
financials services, insurance, retail, CPG, life sciences, manufacturing and telecom.

For more information, contact finacle@edgeverve.com www.edgeverve.com

©2017 EdgeVerve Systems Limited, a wholly owned subsidiary of Infosys, Bangalore, India. All Rights Reserved. This documentation is the sole property of EdgeVerve Systems Limited
(“EdgeVerve”). EdgeVerve believes the information in this document or page is accurate as of its publication date; such information is subject to change without notice. EdgeVerve
acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. This document is
not for general distribution and is meant for use solely by the person or entity that it has been specifically issued to and can be used for the sole purpose it is intended to be used for as
communicated by EdgeVerve in writing. Except as expressly permitted by EdgeVerve in writing, neither this documentation nor any part of it may be reproduced, stored in a retrieval
system, or transmitted in any form or by any means, electronic, mechanical, printing, photocopying, recording or otherwise, without the prior written permission of EdgeVerve and/ or
any named intellectual property rights holders under this document.