Multi-Factor Authentication Critical to Secure ALL Paths to Customer Financial Data Posted  September 8, 2010 By Sarah Fender

While PhoneFactor has been widely deployed as a means to protect banking customers from online fraud, banks are also adopting PhoneFactor to secure another critical access point – remote employee logins. Like other industries, banks are impacted by the shift toward remote access driven by an increasingly mobile workforce and growing adoption of cloud computing. And due to the large amount of personal and financial data banks collect, they are a primary target in the battle against today’s sophisticated and well organized cybercriminals.

Banks must meet rigorous compliance standards as well as fulfill the high security expectations of their customers. Multi-factor authentication has become the gold standard for protecting not only customer transactions, but also remote employee access. Many of the same reasons that PhoneFactor is ideal for online banking (ease of use, strong security, and affordability) also apply to employee implementations.

PhoneFactor recently announced the addition of several new banking institutions to its rapidly growing client list. Heartland Financial USA, OceanFirst Bank, Northway Bank, and the Credit Union Association of New York have all selected PhoneFactor to enable multi-factor authentication for remote access. Securing employee logins with PhoneFactor’s easy, out-of-band phone and sms text authentication methods allows these banks to provide air tight security and still keep costs down. Read More