Robust ID and authentication are central to the development of a digital economy. However, traditional systems of ID are insufficient to meet the needs of a digital economy. As the default ID system for many digital services, email and password provide a very weak system, which is easy to exploit.To protect against users when their…
Most experts agree the phone can provide digital identity and authentication better than any other technology. The phone adds an element of ‘something you have’ (the handset) to the ‘something you know’ (a password or social media log-in). This means any criminal that has stolen someone’s PIN or password also needs that person’s device. There…
In any functioning society, many everyday transactions only work when a person can prove who they are. Reliable proof of identity is the basis of trust. So a consumer wanting to open a bank account, or start a job, or hire a car must be able to answer this question: can you prove who you…
Digital innovation is accelerating across the African continent, driving transformation in almost every industry, including energy, agriculture, transport, banking and education. Transformation that has been largely enabled by mobile technology. In 2017 almost half of the African continent was subscribed to mobile services, equivalent to nearly half a billion people, according to the GSMA. Given…
As we continue to see the fervent adoption of Fintech and the advancing innovation in digital financials services globally, there is growing support for Open Banking in markets across the world. Open Banking initiatives are being put in place to empower consumers to take greater control of their financial information and how and who it…
We have seen how digital innovation has caused positive disruption globally and it is clear that it is accelerating across the African continent. Much of the transformation we are seeing has been enabled by mobile technology. And, from what Myriad Connect has seen working in mobile technology in Africa over the last 17 years, it…
“Tech solutions provider Myriad Connect now claims that sim swap fraud is not only limited to Africa but that it is now a global threat which organisations should seek to do more in the bid to enhance online security. Despite the scam plaguing mobile phone users across Africa for years, Myriad Connect says recent incidents…
As a leader in the adoption of mobile money and other digital payment solutions, in many ways Africa is pioneering the cashless society, which in theory should mean lower risk of theft and fraud. Unfortunately, fraudsters continue to find new and innovative ways to get their hands on consumers’ money. Our recent research into fraud…
These are exciting times for consumers: modern technology is bringing unprecedented levels of transaction and interaction convenience, reducing the costs of doing business and making financial services more broadly accessible. In Kenya, one of the continent’s top innovation hotspots, digital disruptors are bringing to market a plethora of new shopping, trading and interaction platforms across…
Direct debit orders or standing orders are convenient way to pay for services, but they don’t come without their challenges for both consumers and enterprises alike. Consumers are easily exploited by unscrupulous companies that set up unauthorised direct debit orders in their name, and they are usually powerless to get their money back once they’ve…