Multifactor Authentication – End-to-end solution for two-factor authentication

New regulations and guidelines recommended by the FFIEC require financial institutions to implement two-factor authentication.  Symitar’s Multifactor Authentication solution provides an end-to-end solution for two-factor authentication that enables credit union members to conduct online transactions via the Internet with confidence.  Multifactor authentication can identify members based on three factors – something they know, something they have, or who they are.  A cost-effective, secure, and member-friendly alternative to tokens builds member profiles using device ID, IP address, transaction types, and dollar amounts.  Members do not have to enroll, change the login process, download software, or buy hardware.  The user’s device ID is used as the second factor for authentication.  As an operational alternative, a personalized watermark graphic is automatically displayed when members correctly access the credit union’s legitimate Internet banking Web site.  During the setup process, members can select from a library of tens of thousand images.  When the correct image is returned and verified, members can complete the login process by entering their password.

* Multifactor Authentication is provided through a strategic alliance with RSA Security, Inc.