PayOnward Integrates CyberloQ Secure™ to Enhance Digital Payment Security for Credit Unions

CyberloQ Technologies, Inc. is integrating CyberloQ Secure™ into PayOnward's full suite of modern digital payment solutions, bringing transaction-level security across PayOnward's entire ecosystem. This integration will further protect PayOnward's clients from a wide range of digital Business-to-Business and Business-to-Consumer security threats. Cyber fraud represents one of the biggest challenges faced by organizations, including credit unions and community-based financial institutions, with impacts extending beyond financial losses to include business disruption, reputational damage, and consumer harm.

CyberloQ Secure™'s Multi-Factor Authenticator provides added protection for financial institutions by ensuring that payments, transfers, and other financial transactions initiated in the institution's systems are legitimate. The system authenticates the user's identity on every transaction and restricts access to only those users who successfully verify their identity using a combination of challenge factors including location, unique one-time passcodes, and fingerprint, face, or voice biometrics. This comprehensive approach addresses the particular vulnerability that community-based financial institutions face due to their size and experience levels in cybersecurity.

With CyberloQ Secure's strong authentication protocols and location-based access constraints implemented, financial institutions can prevent bad actors from initiating fraudulent activities. This protection extends to scenarios such as diverting funds to fraudulent accounts, using spoofed accounts receivable links that divert payers to malicious payment sites, creating fake vendors and submitting fraudulent bill pay transactions, altering payment instructions of legitimate vendors, and executing consumer account takeovers using compromised user credentials acquired through phishing attacks.

Cary Strange, CEO of PayOnward, expressed enthusiasm about the partnership, stating that the integration addresses one of the most pressing concerns for credit union and community-based financial institution clients. By reducing fraud at the account and transaction level, clients can be more confident that their customers and brand are protected from the costly consequences of cybercrime. Chris Jackson, President and CFO of CyberloQ Technologies, emphasized that cybercriminals never sleep and the risk they represent for financial institutions is significant and growing, making real-time, risk-based authentication essential for companies where trust and security are mission critical. For more information about CyberloQ Technologies, visit https://www.cyberloq.com, and for details about PayOnward's platform, visit https://pay-onward.com.