
As Internet access has proliferated, online banking and transactions related to financial services have increased notably during the last few years, especially in North America, Western Europe and Japan. Consumers routinely use the Internet to view personal banking information, transfer funds, and manage all types of accounts and portfolios.
At the same time however, financial institutions are faced with billions of dollars in losses annually due to hacking and online fraud. In addition, the Federal Financial Institutions Examination Council (FFIEC) has issued guidance for enhanced authentication methods that financial institutions will be expected to comply with by the end of 2006. And, the Federal Deposit Insurance Corporation has recommended that financial institutions and government agencies upgrade existing password-based single-factor authentication methods to two-factor authentication systems.
Protiva secure network identity solutions are ideal for banks, investment firms and other organizations that need to protect their network users’ identities and comply with current and future governmental mandates. Strong two-factor user authentication is enabled by a secure identity credential which incorporates a user name and password plus a secure, one-time password. Working with Gemalto’s browser plug-in, backend server technology and existing AAA (Authentication, Authorization and Accounting) servers, Protiva solutions provide an incremental level of protection to guard against phishing, pharming and theft of user identity credentials.
Protiva solutions are easy to install and support and comply with current U.S. Government regulations and guidelines issued by the FDIC and FFIEC. They maximize user flexibility and network accessibility with multiple form factors and connectivity options. With Gemalto’s family of Protiva smart card devices, financial institutions can select a convenient and flexible device that is optimized for their customers’ unique network access requirements.