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June 07, 2017

iconectiv Talks Security and Compliance

The word “FinTech” is an amalgamation of “financial technology,” and it reflects the increasingly complex portfolio of solutions that banking and financial institutions use to secure customer accounts and communications. Like many security-related concepts, the definitions and technologies are continually evolving, changing and updating.

Agora Assemblies’ Fellowship Community is a collaborative community made up of organizations dedicated to the critical field of financial information technology. This week, the group is holding its annual FinTech Innovation Assembly, a multi-format conference that will feature thought leaders and industry players from the IT departments of the world’s most prominent financial institutions. The event is featuring a series of keynote presentations, panels, interactive roundtables, think tanks, educational workshops, and networking sessions to illuminate innovation in financial IT.

New Jersey-based iconectiv will attend the event to showcase its Right Party Verification for Messaging product, a solution for mobile marketers who need to remain in compliance with the Telephone Consumer Protection Act’s (TCPA) Right Party Verification requirement.

Solutions such as Right Party Verification for Messaging are increasingly critical as consumers and businesses rely more heavily on mobile numbers for important personal exchanges. Whether it’s for verification codes to access online accounts, account alerts and notifications or safety messages, SMS (text messaging) is a viable means of immediate two-way communications with customers. Businesses, however, need to be careful who they’re texting.

Nearly 45 million mobile phone numbers are “recycled” each year, so many companies may not realize they’re texting the wrong person, or someone who hasn’t given permission to receive the messages. Then, there are security issues to consider: do you really want to risk sending an account access verification code to the wrong person? iconectiv’s solution was created to help companies flag numbers that are potentially at risk for TCPA-related violations and fines, which allows companies to do their best on customer engagement – the goal of mobile marketing – without having to worry about running afoul of the TCPA.

Also this week, iconectiv demonstrated its solution’s relevance to the Internet of Things by participating at the Telecommunications Industry Association (TIA) Connectivity Jam in Dallas. iconectiv CTO Chris Drake participated in the opening board panel as well as a Security Roundtable which explored hardware and software solutions, communications infrastructures, security complexities and the use of artificial intelligence in securing the networks that will allow billions of interconnected devices to communicate on the Internet of Things. 

Edited by Alicia Young

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