Video: Authenticate 2020: Why PNC Puts FIDO at the Center of its Audacious Digital Transformation
Speaker: Conor White, Daon and Sridhar Kotamraju, PNC
Under the visionary leadership of Sridhar Kotamraju, PNC Bank (already the 8th largest in the US) has embarked on a bold and comprehensive digital transformation, with cutting-edge identity assurance technology—and FIDO certification—at its core.
With an audacious goal of cutting fraud and account takeovers to near zero, while simultaneously delivering the industry’s most consistently delightful and frictionless customer experiences, regardless of channel, PNC chose to follow a uniquely customer-empowering, FIDO-enabled identity model called Identity Continuity and Orchestration (IC&O).
IC&O is the process of consolidating a lifetime of disparate, cross-channel identity interactions into a single, seamless view of the customer, which lets PNC personalize and continuously optimize the customer experience, regardless of when, where, how, or why the interaction takes place. This means uniting all four corners of the customer experience (mobile, desktop, contact center and physical location), providing security and consistency across all channels and devices, simplifying and standardizing authentication workflows using FIDO protocols, and navigating channel-specific KYC requirements and other regulatory obligations.
With FIDO board member Daon as its technology partner, PNC will soon roll out the first phase of its digital transformation to its more than 8 million customers in the form of a modernized, passwordless mobile and web platform that allows users to choose their own personalized, multi-factor authentication journeys.