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

PhoneFactor seamlessly integrates with online banking applications and transaction processes. Easy, automated self-service options are available through the phone and web, which helps to expedite deployment and minimize overhead.

PhoneFactor is trusted by leading banks and financial institutions like VirtualBank, AssociatedBank, and United Bank & Trust to meet FFIEC and other industry regulatory requirements for strong authentication.