Making the Authentication Process Secure and Effortless for Members
With its accurate and well-tested authentication platform, AnchorID solves two important problems credit unions face: know-your-customer compliance and multifactor authentication.
“AnchorID recently presented to and drew great interest from Northwest credit union leaders on our Value Creation Taskforce, and we’re excited to introduce them as a new betaSpace partner,” said Jason Smith, NWCUA’s Vice President, Strategic Resources. “We’re always looking for ways to help credit unions give their members a better experience, and AnchorID’s authentication process helps do that by doing away with pesky passwords, while meeting industry standards.”
Access to a core-processor can be cost-prohibitive and complex, especially for small and mid-size credit unions. 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.
AnchorID also increases convenience for credit union members, who often abandon efforts to complete credit applications when required to fill in dozens of fields on their mobile phones. AnchorID’s KYC-compliant product requires just three fields from members — name, address and birthday — to generate enough information to make a credit decision.
“The rapidly-changing world of advanced cyber security is an ongoing challenge for financial institutions of all sizes,” said David W. Schropfer, CEO of AnchorID. “Our 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.”
Questions about how AnchorID can help you improve your credit union’s member experience? Contact Jason Smith, NWCUA’s Vice President, Strategic Resources, at firstname.lastname@example.org.