Sumeria revolutionizes banking security with silent authentication

Faced with the explosion of bank fraud by SMS, Sumeria innovates with a revolutionary solution: silent authentication. In partnership with Vonage, this technology eliminates SMS codes to secure transactions and simplify customer experience. A decisive step that positions Sumeria as a pioneer in the fight against banking phishing in Europe.

FACTS

• SMS banking fraud, also known as "smishing", has seen a dramatic increase in 40% in 2023, affecting almost 40% of the French. These attacks exploit users' confidence to steal sensitive data.

• Cybercriminals use several techniques, including:

  • Fraudulent SMS imitating banks

  • Calls for two-factor authentication codes (2FA)

  • Recruitment of "mules" on social networks to divert funds.

• In response to this growing threat, Sumeria launched in October 2024 silent authentication, an innovative technology based on automatic validation by telephone operators. This system certifies that the SIM card fits the customer, eliminating a critical flaw in traditional security mechanisms.

• This solution reflects the commitment of Lydia Solutions, Sumeria's parent company, offering increasingly safe and simple banking services. Founded in 2011, Lydia Solutions is now a key player in French fintech, supported by international investors and raised €235 million.

ISSUES

• Enhanced security: By eliminating a key vector for cyber criminals, Sumeria offers its customers increased protection against digital risks, thus responding to a major consumer concern.

• Simplified user experience: Removing SMS codes fluidizes transactions: more interruptions to enter code, increased satisfaction and an optimized user path.

• Technology leadership asserted: By launching this solution first, Sumeria demonstrates its ability to innovate quickly and anticipate market needs, strengthening its position on the European banking sector.

• Reducing financial impacts: Less successful fraud means reduced financial losses for customers and operational savings for Sumeria.

PERSPECTIVE

• In its report, Kaspersky noted a significant increase in phishing attacks in 2023, with more than 709 million attempts recorded. This alarming finding reflects the diversification of cyber threats to which companies must adapt quickly.
• In early 2024, this trend also manifested itself through telephone scams, a major concern for Sumeria, which deployed its new tool "Certified Call" to fight fake banking advisors.
• These initiatives illustrate a shift towards innovative and proactive solutions, such as silent authentication, which could eventually become a standard and encourage other actors to strengthen their anti-fraud mechanisms.

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