5 Questions Every Fintech Should Ask About SIM Security Before Money20/20

Money20/20 is 5 days away. If you're in payments, remittances, or digital finance, identity security will be a major topic.

But there's a critical layer most conversations will miss: the hardware root of trust.

While the industry debates cloud authentication and passwordless flows, there's a secure element already in 5 billion pockets that could solve many of these challenges.

Before heading to Las Vegas, consider these questions:

1. Can your authentication withstand a session token breach?

The Okta breach showed us that stolen session tokens can bypass MFA entirely—affecting 134 enterprise customers. When security exists only in the cloud, it's vulnerable to cloud-based attacks. SIM-based authentication provides a hardware root of trust outside this attack vector.

2. Are high-fraud corridors limiting your growth?

Remittance fees in Sub-Saharan Africa reach 9%—not primarily from processing costs, but from fraud risk and compliance overhead. Each additional identity verification step slows transfers and increases costs. SIM-level verification can streamline this process.

3. What's the real cost of SIM swap fraud?

SMS-based 2FA creates vulnerability when attackers can socially engineer telecom providers. By the time fraud is detected, funds have typically moved. SIM-native authentication verifies the physical secure element itself, not just the phone number.

4. Are authentication barriers excluding your target users?

In many developing markets, mobile data costs force impossible choices. When authentication requires data-heavy app sessions, you're creating access barriers for the customers who need your services most. SIM-layer security can work without consuming user data.

5. How resilient is your identity infrastructure?

Relying on third-party identity providers creates a single point of failure. When they experience downtime or breaches, your operations stop. Distributed identity through SIM security reduces this centralized risk.

The SIM card is universal, tamper-resistant, and already deployed. These characteristics make it a practical foundation for addressing fintech's identity challenges.

We'll be at Money20/20 discussing how SIM-based identity infrastructure addresses these problems. If you'd like to connect, send us a message.

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