SecureIDNews | FFIEC tells banks to make transactions more secure with two-factor authentication

Monday, November 28, 2005

Federal guidelines not mandatory, but highly recommended for financial houses that want to stay in their examiners’ good graces

By Marisa Torrieri, Contributing Editor

Expect to see more U.S.-based financial institutions shelling out big bucks to revamp static security systems. New guidelines put out last month by the Federal Financial Institutions Examination Council (FFIEC) call for banks to incorporate new, secondary secure-ID technology by the end of 2006. The reason, says an FFIEC spokesman, is to better ensure the security of customers’ financial data.

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TeleSign and Intel partner for authentication products

Internet fraud prevention and authentication provider TeleSign has teamed up with Intel Corp. for a secure two-factor authentication product targeted to consumers and enterprises.

The collaboration pairs Intel Identity Protection Technology (Intel IPT) with TeleSign Two-Factor Authentication so that it can be offered beyond Intel Ultrabook devices and the third generation of Intel Core vPro-powered laptops.

ActivIdentity cloud security product targets banks

ActivIdentity has added a fraud detection service and authentication capabilities to its 4TRESS Authentication Appliance. Targeted to the banking industry, 4TRESS offers multi-layered strong authentication for both network and cloud services.

SecurEnvoy reseller implements authentication product

Motiv, an IT security specialist and reseller of authentication products by SecurEnvoy, has replaced its own hardware tokens with SecurEnvoy’s SecurAccess SMS and soft token two-factor authentication system.

CSC, Daon partner for banking multifactor authentication product

CSC has partnered with identity authentication technology and services provider Daon to produce a biometric multifactor authentication service for the banking industry. The product, called ConfidentID Mobile, provides in and out-of-band identity authentication for transactions in multiple channels, including online and mobile.

ValidSoft and Spindle partner for payments security

ValidSoft, a supplier of telecommunications-based fraud prevention, authentication and transaction verification products, announced its new partnership with Spindle Inc., a mobile commerce and alternative payment solutions provider to bring payments security products to U.S.-based customers.

New GoldKey tokens provide authentication, encrypted storage

GoldKey Security Corporation has released GoldKey Tokens with Built-In Flash, a line of form factor authentication tokens that come with a hardware-encrypted secure flash drive along with a smart card and two-factor authentication.

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FFIEC tells banks to make transactions more secure with two-factor authentication

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