Reseda Summit 2026: Paul Kellam (Keyno)

Paul Kellam explains that Keyno provides fraud prevention tools for issuers of credit and debit cards, with a focus on reducing card-not-present fraud. He says most card fraud now happens online using stolen card data, and Keyno's system replaces the static security code on the card with a dynamic code that changes every hour and is viewed in a phone app.

He describes how online transactions typically require the card number, expiration date, and the three- or four-digit code on the card, which can be reused if stolen. Keyno’s approach keeps the code from the back of the card from being used for online purchases and instead requires the live code in the app, which he says lowers card-not-present fraud by more than 95%.

Kellam says cardholders do not necessarily need new cards to use the system. Issuers can keep existing cards in circulation and simply instruct members to use the app-generated code. He notes that consumers are worried about fraud, especially with debit cards, because unauthorized use can quickly affect checking accounts and cause other payments to fail. He also discusses other parts of Keyno’s offering, including an alternative to text-message one-time passwords for 3D Secure transactions.

In that flow, the member receives an in-app alert with the transaction details and then confirms it with a biometric check such as fingerprint or face ID. Another feature he mentions uses tap-based card verification. This can be used for card activation or to help a call center confirm that a caller has physical possession of the card. He says Keyno offers its technology through its own app, white-label versions, or components that can be integrated into other banking apps.

Kellam says Keyno is already used by about 15 issuers globally, including MSUFCU. He adds that the company is in discussions with more app providers and that its systems can reduce fraud costs, reissuance expenses, and dispute fees. He also says some institutions see increased card spending and less friendly fraud after implementation.