Authentication in an Internet Banking Environment Guidance (FFIEC)

For banks offering Internet-based financial services, the guidance describes enhanced authentication methods that banks are expected to use when authenticating the identity of customers using the on-line products and services. Financial institutions were expected to achieve compliance with the guidance by year-end 2006.

The FFIEC guidance states that single-factor authentication is not sufficient and requires additional authentication be applied to online transactions.

PhoneFactor enables rapid compliance with FFIEC recommendations. By using a device that customers already have (their phone) as a second factor of authentication, PhoneFactor can quickly be deployed to secure all online logins or just high risk transactions.