PhoneFactor Inc. has added authentication for online banking to its list of service features. The company has introduced the Universal Banking Gateway and added another secure layer to online banking functions.
Gateway works to add out-of-band authentication to online banking platforms, which will now be made possible through the same PhoneFactor authentication solution. PhoneFactor already offers authentication via out-of-band phone call or text message, now the online banking solution will authenticate transactions and logins.
PhoneFactor also supports direct incorporation through Web plug-ins for Java and .Net. Additionally they have partnered already with banking platform providers like Fiserv. Already, PhoneFactor has reported to be responsible for millions of online banking authentications for financial institutions worldwide.