From user authentication and password resets to transaction verification, two-factor authentication (2FA) offers basic but useful protection for consumers. The 2FA process typically sends an SMS sent to the customer with a one-time password (OTP). The OTP is entered alongside an existing username and password, confirming the user is who they say they are.

Business bank, Allica Bank, is launching a £100m funding round to help it meet the current high levels of demand for finance it is experiencing from British businesses, and continue broadening services and product lines. The bank, which received full UK banking authorisation in late 2019, has had over £1bn of enquiries from businesses in the aftermath of the Covid-19 pandemic.

Economic instability has been ricocheting throughout the stock market in the wake of the global coronavirus pandemic. Its effects have been felt across all industries, with winners and losers’ across different sectors. So, how has fintech fared during this period? An industry which was coming off the back of a strong growth period as ‘neobanks’ exploded across the globe, they’ve given consumers the ability to invest, bank and make payments in real-time, on a hand-held device.

Global analytics and technology provider FICO has just been named a category leader for the second year running in the new Chartis Research report - Cyber Risk Quantification Solutions, 2020: Market Update and Vendor Landscape.

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organisation, announced that it has partnered with Phoenix Group, the UK’s largest long-term savings and retirement business, to launch an enhanced client analytics tool for workplace pension clients of its Standard Life Assurance Limited business.