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

CyberloQ Technologies, Inc. has announced the integration of its CyberloQ Secure™ multi-factor authentication system into PayOnward's comprehensive digital payments platform. This partnership addresses one of the most significant challenges facing financial institutions today: the escalating threat of cyber fraud that can disrupt operations, damage reputations, and harm consumers.

PayOnward provides a next-generation cloud-native universal payments platform specifically designed for credit unions and community-based financial institutions. These institutions face particular vulnerability due to their size and experience levels, making enhanced security measures increasingly critical in today's digital landscape. The integration of CyberloQ Secure™ will provide transaction-level security across PayOnward's entire ecosystem, protecting against both Business-to-Business and Business-to-Consumer security threats.

CyberloQ Secure™'s Multi-Factor Authenticator works by verifying user identity on every transaction, restricting access only to users who successfully authenticate using a combination of location verification, unique one-time passcodes, and biometric factors including fingerprint, face, or voice recognition. This comprehensive approach addresses multiple fraud vectors that financial institutions currently face.

The enhanced security protocols will help prevent various fraudulent activities, including fund diversion to personal or fraudulent accounts, spoofed accounts receivable links that redirect payers to malicious payment sites, creation of fake vendors and submission of fraudulent bill pay transactions, and consumer account takeovers using compromised credentials obtained through phishing attacks. The system also addresses internal threats from rogue employees attempting to initiate unauthorized transactions.

Cary Strange, CEO of PayOnward, emphasized the importance of this integration, stating that it addresses one of the most pressing concerns for credit union and CBFI clients. By reducing fraud at the account and transaction level, financial institutions can operate with greater confidence that both their customers and their brand are protected from the costly consequences of cybercrime.

Chris Jackson, President and CFO of CyberloQ Technologies, highlighted the continuous nature of cyber threats, noting that cybercriminals never sleep and the risks they represent for financial institutions are significant and growing. The CyberloQ Secure™ system provides real-time, risk-based authentication around the clock for organizations where trust and security are mission-critical. More information about CyberloQ Technologies can be found at https://www.cyberloq.com.

PayOnward's platform, which includes accounts receivable, bill pay, peer-to-peer transfers, account-to-account payments, and cross-border payments, helps credit unions modernize services while maintaining security standards. Additional details about PayOnward are available at https://pay-onward.com. This security enhancement comes at a time when financial institutions face increasing pressure to balance digital innovation with robust fraud prevention measures.