As the banks face ever-tougher trade-offs between security and convenience, they must look to new technologies that can improve the former without damaging the latter, says Gary McAlum, senior vice president and chief security officer for USAA.

Some technologies actually make life easier for the digital banking customer, McAlum says. One is biometric authentication — letting people verify their identity with a fingerprint, a spoken word or phrase, or a selfie, for instance. USAA was the first financial institution to roll out biometric security with its mobile banking app. It now lets people log in through fingerprint, voice or facial recognition. The company also layers in other security mechanisms, such as device identity, so that it's not relying solely on any single biometric.

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