Trouble In Authentication Land

STRONG Authentication

Bank fraud and identity theft are a frightening reality, both for the banker and the consumer. The number of consumers affected by widespread debit card fraud may be a good thing. The impact on people's bank accounts may have increased acceptance towards "disruptive technologies", i.e., hardware tokens. This may be the perfect storm for banks. You have the customer's permission to tell them what to do.

While the pressure mounts to meet the FFIEC deadline, we see significant movement by the major banks. Bank of America, after a several month delay, has rolled out a security solution which is now mandatory for BofA online banking customers. A major security vendor now offers hardware tokens combined with tokenless "risk-based" authentication - good match.

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