An end-to-end solution for 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 with confidence. It helps credit unions meet regulations recommended by the FFIEC to implement two-factor authentication. Multifactor authentication can identify members based on three factors – something they know, something they have, or who they are. This 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 online banking site. When the correct graphic image is verified, members can complete the login process by entering their password.
Core compatibility: Episys®
What It Does
- Builds a profile for each member that includes device IDs, IP address, transaction types, and dollar amounts.
- Is invisible to more than 99 percent of members and only visible during risky and fraudulent transactions (less than one percent of all cases).
- Requires no downloading of software or buying any hardware for members.
- Invokes additional authentication for risky transactions only, by either using a challenge response or an out-of-band, near-real-time automated telephone call.
- Provides members with a "cookieless" personalized watermark graphic when they correctly access the credit union’s legitimate Web site.
- Allows the member to select from a library of tens of thousands of unique images.
What It Does For You
- Reduces the possibility of an Internet fraudster accessing member data using stolen credentials.
- Provides a cost-effective, secure and consumer-friendly alternative to tokens.
- Provides invisible security to members as they use online banking.
- Instills member confidence and trust.
- Provides Internet banking members with a consistent and simple online experience.
- Helps credit unions comply with regulatory requirements.