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Risk Management

02:22 PM
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Multi-Factor Authentication Adoption Picks Up Steam

By Greg MacSweeney, Wall Street & Technology Despite the approaching Federal Financial Institutions Examination Council's year-end deadline for the implementation of multi-factor authentication (MFA) at financial institutions, many FIs are still in the process of evaluating and selecting two-factor identification solutions. Some companies may still be in the evalu

By Greg MacSweeney, Wall Street & Technology

Despite the approaching Federal Financial Institutions Examination Council's year-end deadline for the implementation of multi-factor authentication (MFA) at financial institutions, many FIs are still in the process of evaluating and selecting two-factor identification solutions. Some companies may still be in the evaluation phase of multifactor technology because the FFIEC's initial guidelines were purposely vague and have only recently been partially clarified with FFIEC's FAQ on its multifactor requirements.The latest company to announce it's choice for MFA is US Bank, which selected Dallas-based Entrust's Zero Touch Fraud Detection solution to help assist with its FFIEC compliance activities. According to Entrust, Zero Touch Fraud Detection is based on technology that Entrust acquired from Business Signatures. The data stream technology can extract real-time actionable intelligence from patterns of online activity without invading online business applications.

The US Bank announcement follows ING DIRECT, which has gone live with numerous products from RSA Security and The Vanguard Group's selection of two elements of RSA Security's Adaptive Authentication solution to protect its clients against online fraud and identity theft. Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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