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

CyberloQ Technologies, Inc. is integrating its CyberloQ Secure™ authentication system into PayOnward's comprehensive digital payment platform, marking a significant advancement in security protection for credit unions and community-based financial institutions. This integration addresses one of the most critical challenges facing financial organizations today - the escalating threat of cyber fraud that can disrupt operations, damage reputations, and harm consumers.

The collaboration brings CyberloQ Secure™'s Multi-Factor Authenticator to PayOnward's cloud-native universal payments platform, providing transaction-level security across the entire ecosystem. Financial institutions, particularly smaller community-based organizations that may be more vulnerable due to size and experience levels, will benefit from enhanced protection against Business-to-Business and Business-to-Consumer security threats.

CyberloQ Secure™ operates by authenticating user identity on every transaction, restricting access only to users who successfully verify their identity through a combination of challenge factors including location verification, unique one-time passcodes, and biometric authentication using fingerprint, face, or voice recognition. This multi-layered approach ensures that payments, transfers, and other financial transactions initiated within the institution's systems are legitimate.

The implementation of CyberloQ Secure™'s strong authentication protocols and location-based access constraints enables financial institutions to prevent various fraudulent activities. These include diverting funds to fraudulent accounts, using spoofed accounts receivable links that redirect 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 credentials obtained through phishing attacks.

Cary Strange, CEO of PayOnward, emphasized the importance of this integration, stating that the company is excited to work with CyberloQ Technologies to offer this additional security layer to clients. The partnership addresses pressing concerns for credit union and community-based financial institution clients by reducing fraud at both the account and transaction levels, providing greater confidence that customers and brand reputation are protected from the costly consequences of cybercrime.

Chris Jackson, President and CFO of CyberloQ Technologies, highlighted the persistent nature of cyber threats, noting that cybercriminals never sleep and the risks they represent for financial institutions continue to grow significantly. CyberloQ Secure™ provides real-time, risk-based authentication around the clock for organizations where trust and security are mission-critical, helping PayOnward's clients maintain protection and security in an increasingly dangerous digital landscape.

PayOnward's digital payment platform, available at https://pay-onward.com, serves credit unions and community-based financial institutions with a comprehensive suite including accounts receivable, bill pay, peer-to-peer transfers, account-to-account payments, and cross-border payments. The integration with CyberloQ Secure™ represents a strategic enhancement to the platform's security capabilities, particularly important as financial institutions face evolving cyber threats that target both external and internal vulnerabilities, including potential fraudulent activities by rogue employees.