“’The fact that [customers are] connected to the internet of things opens the door to the broader spectrum of payment activity. That allows us to do is to build deeper profiles, [which AI can use] to better predict if [a transaction] is something [the customer] would do,’ Monroe said.
This influx of new data means banks must look beyond authenticating login credentials. Users’ payment histories, how they hold their phones and type in their passwords, as well as other factors should be considered during the authentication process.”
