The 1Kosmos BlockID SIM Binding Advantage
1Kosmos BlockID delivers identity-based passwordless access to any business system to ensure that only authorized individuals access data or applications regardless of where they are based. Our BlockID platform unifies identity proofing and passwordless authentication,including SIM (subscriber identity module) binding capabilities that prevent online fraud. Using a combination of SIM detection and SMS verification, BlockID validates a user’s mobile number against the number registered with their financial institution or employer to protect against attacks that attempt to register an unauthorized device/phone number on a customer’s account.
The 1Kosmos BlockID Platform ensures that only customers with a registered phone number can pair their device as an authenticator to approve/deny transactions. The implementation of BlockID’s device SIM binding helps reduce fraud, especially in the internet retail banking sector, where vulnerable customers can be duped into allowing unauthorized entities to
register the app and take over the account.
SIM binding uses a combination of SIM detection and SMS verification that validates the user’s cell phone number against the one that’s registered with the financial institution or employer. That way, only a customer using the phone number registered to that account can pair their device to an identity authenticator to conduct any transactions.
SIM Binding Customer Experience
1Kosmos BlockID SIM binding is achieved during account registration in the 1Kosmos BlockID app. The user will click on an email invite from the institution, which will open the BlockID app. The user is then challenged to verify their phone number.
The BlockID platform uses a combination of SIM detection and SMS verification to validate a user’s mobile number against the number registered with their service provider.
SIM Binding Administration
The 1Kosmos customer (bank, payment provider, enterprise, etc.) generates an email in BlockID that contains a link to send to end users. When the recipient (consumer, employee, etc.) clicks on the link, it opens the BlockID app, which initiates a process to detect the presence of a single or dual SIM. The user is then prompted to choose the SIM that is registered with their service provider or employer.