Banks are undergoing a digital transformation that is eroding customer trust, so building digital trust is critical. Digital trust can be achieved through balancing customer experience and security across trusted people, devices, channels and transactions. The VASCO Digital Trust Platform establishes continuous trust through identity proofing, device binding, app security, authentication and transaction management that secures users and activities while providing convenience. Maintaining digital trust throughout the customer journey is key to banks' success in competing in the digital world.

1. The digital transformation of banking is well underway — and so is the
erosion of trust between banks and their customers. How can banks reverse
that trend? Is building trust still relevant in a digital world?
We hosted a webcast with American Banker to discuss these ideas and
explain why we believe so strongly that building digital trust is critical for
banks to remain competitive. We further believe that the cornerstone of
any digital transformation effort within financial institutions will be the
right balance of customer experience and security.
Watch the full program to understand how delivering digital trust can help you:
• prevent fraud,
• save millions of dollars,
• streamline the entire banking process, and
• deliver a convenient user experience.
Benjamin Wyrick
Vice President of Sales North America
VASCO Data Security
Will LaSala
Director of Services
VASCO Data Security
WHAT DO BANKING CUSTOMERS WANT?
Customers want their banks to know them as people, not numbers. They
want their data and identity to be protected. They want banks to an-
ticipate their needs. And they want simplicity. Overall, they want a good
banking experience, not just banking services.
Meeting these wants requires a fully digital process, and one of the big-
gest challenges inherent to the digital transformation is balancing cus-
tomer experience with security.
This isn’t a question of whether customer experience should take priority
over security or vice versa. Rather, it’s about how to implement a process
that includes the security safeguards customers need, while providing them
with a frictionless digital experience.
Digital Trust: Aligning Security
With User Experience
EXECUTIVE SUMMARY
Sponsor Content From:Hosted By:

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A solution that is highly secure but extremely cumbersome, or very user-friendly
but not secure enough, isn’t the right fit. You want to ensure that the consumers of
your products and services can access your banking services in a way that’s easy
and straightforward, but with all the necessary security checks in place so that the
underlying transactions are secure and can be trusted. And in turn, this will drive
the high rates of adoption that will support your bank’s success.
HOW BANKS CAN BUILD ‘CONTINUOUS TRUST’
Financial institutions are realizing that customer trust is the common denominator
across their products and services. Unfortunately, they find establishing this trust on
a digital platform an uphill battle. Financial services is still the least-trusted industry
surveyed, according to the 2016 Edelman Trust Barometer.1
And fraud presents a real
threat, with customers’ favorite mobile devices a particularly thorny problem: 60%
of all mobile malware specifically targets financial institutions, and 97% of all apps
show at least one vulnerability that allows hackers to break in.2
However, making trust a priority in the digital transformation process will be worth
the effort. Banking customers that trust their banks are more likely to:
• recommend the bank
• use its products
• be loyal
• try new products
• even pay a premium for services
Ultimately, a bank’s digital transformation efforts must connect trust with cus-
tomer expectations. How? Through a structure and a technology layer that don’t
add complexity but still ensure continuous trust to customers. This requires:
• Trusted people — so that you know who you’re dealing with
• Trusted devices — so that your stakeholders can transact securely
across devices
• Trusted channels — face-to-face or remote environment
• Trusted transactions — so that the underlying data and documents
are secure
EXECUTIVE SUMMARY
Poor trust — or
even worse, a
breach of trust —
in the digital world
can quickly lead
to customer churn,
low adoption, and
brand erosion,
which can
permanently harm
your business.
– Benjamin Wyrick
Vice President of Sales
and Business Operations
VASCO Data Security
Components of VASCO Digital Trust Platform
FPO
The above illustrates how banks can provide end-to-end delivery of trust, meeting customer
expectations and banks’ own digital transformation goals.

3. 3
THE DIGITAL TRUST PLATFORM IN ACTION
Who you are: Digital trust begins with the introduction of a person in a way that
makes it possible for you to confidently identify the user. Identity proofing helps
you ensure that you know your user is who they claim to be.
The next step builds on the initial trust by sending a trusted component to the user,
and ensuring that the identity-proofed user possesses that trusted component, a
practice known as device binding. This means securely transferring a strong piece
of data that cannot be compromised to a “healthy” device. The goal is to establish
a trusted digital identity of that user tied to their mobile device.
What you use: The next priority is mobile app security, proving that the
application(s) on the mobile device are secure — a critical task, given that 80%
of successful breaches target the application layer and 97% of apps have at least
one vulnerability.3
Converting your app into a trusted app means protecting it
from silent mobile attacks with RASP security (Runtime Application Self-Protec-
tion). Mobile attacks such as debuggers, rogue apps, device and app cloning,
screen scraping, code injection, and jailbreaking will no longer threaten your app.
Who you are, again: Another layer of security, known as user authentication
creates the continuous trust between the bank and its customers. At this point it
means simply proving the user has completed the previous trust platform steps. If
something raises a red flag, a higher level of security, such as multi-factor authen-
tication will be required — but not every time, to avoid placing an unnecessary
burden on users.
Modern multi-factor authentication is often no longer tied to hardware or “tokens”
of any kind—it can be, but it’s not necessary. In many cases, biometric authenti-
cation such as facial or voice recognition or a QR code scan will be enough, or a
“silent” multi-factor authentication that the app triggers.
EXECUTIVE SUMMARY
With trust among
these components,
users can be
allowed to do
more and can be
trusted to access
additional
features.
– Will LaSala
Director of Services
VASCO Data Security
FPO
Delivering trust to the device

4. 4
What you do: Digital trust extends to transaction management, whether your
customers are signing an agreement, opening a new account, or transferring mon-
ey electronically. The underlying digital transaction needs to be trusted and secure
across every channel — face-to-face, online or mobile. This step secures the user’s
intent to take an action and consists of three components:
• A trusted communication channel
• Electronic document signing
• Transaction verification
How you do it: Digital trust is linked to your users’ behavior, including how they
interact with your business. You want to be able to examine behavioral traits
throughout this digital process — and either allow, restrict, or deny access to those
users depending on their digital behaviors. You need to ensure the trust is ongoing
by managing behavior risk and preventing fraud before it happens.
This component may influence how you orchestrate security for user authentica-
tion and transaction management. You can flag “suspicious” activity and stop it
right there, or require a customer to go through additional security steps, while al-
lowing non-suspicious transactions to go through with minimal user involvement.
CONCLUSION
The success of your banking business in the digital world hinges on delivering trust.
You must maintain this trust throughout the customer journey. You will not achieve
that goal by trying to secure individual, disconnected pieces. Instead, follow the
VASCO Trust Platform and its model of continuous trust for security that can be
delivered consistently, across devices, and with the right balance of customer ex-
perience and security. In the end, establishing and continuously maintaining digital
trust could be the missing link that allows banks to compete with nimble fintech
newcomers by offering customers what they want, when they want it.
EXECUTIVE SUMMARY
1
2016 Edelman Trust Barometer — Financial Services Results. April 12, 2016. http://www.slideshare.net/EdelmanInsights/2016-edelman-trust-barometer-finan-
cial-services-results
2
2016 Trustwave Global Security Report. https://www2.trustwave.com/GSR2016.html?utm_source=redirect&utm_medium=web&utm_campaign=GSR2016
3
Ibid.
The success of your
banking business
in the digital world
hinges on
delivering trust.
Benjamin Wyrick joined the company in 2005 and has been a key contributor to the overall growth of VASCO’s footprint
in North America. Benjamin and his team have successfully managed IAM and mobile security projects with some of the
largest financial institutions, enterprises, and online applications around the world. Benjamin is a frequent presenter at
banking and financial industry conferences and web seminars throughout North America on preventing cyber fraud and
account and transaction security for online and mobile applications.
Will LaSala joined the company in 2001 and has been involved in all aspects of product implementation for financial
institutions, online gaming, and mobile application developers. Will also oversees the VASCO professional services group,
helping banks, enterprises, and healthcare providers in North America with custom mobile application security, identity
management, and two-factor authentication projects. Will’s research interests are focused around the use of mobile and
Bluetooth technology to simplify security and improve user experience. Prior to joining VASCO, Will was a Senior Systems
Engineer and Developer for a prominent consulting firm in New England. He brings more than 20 years of software and
cyber security experience to his work at VASCO.