We use cookies and other similar technologies (Cookies) to enhance your experience and to provide you with relevant content and ads. By using our website, you are agreeing to the use of Cookies. You can change your settings at any time. Cookie Policy.

Untitled Document

It may already be a cliché, but the credit crunch is forcing all types of businesses to review their costs and look at how they can reduce overheads. For financial institutions with millions of customers, one of the most obvious solutions is to encourage those customers toward using low-cost channels such as the Internet to manage their accounts, rather than going to branches or through call centers that have to be staffed.



But the Internet brings significant security risks. In the face of increasingly sophisticated fraud attempts by cyber-criminals who have developed new ways of accessing sensitive information with alarming speed, banks must be able to guarantee that a customer is who they say they are. Clearly, banks must deploy much more than password-based systems in order to encourage more customers to use online facilities and to protect existing Internet customers from fraud.

Both Barclays and Natwest have recently announced that they are issuing card readers to customers, indicating the start of a trend toward using strong authentication for all customers, not just businesses or high net worth individuals.

The problem comes with integrating these new technologies into an existing infrastructure. Most banks are already managing a legacy that is comprised of various point solutions that are used to help customers access their accounts via different channels using different technologies. One customer might require a password to use the telephone banking service, and a memorable question for resets or emergency access; another might use a token based on proprietary or OATH technology to access online banking. Similarly, the same institution may in the future want to introduce PKI or biometric data to further improve the security of transactions.

Traditionally, banks and other financial services firms have built up a collection of point security solutions that are difficult to manage and incredibly costly to maintain. Firms are beginning to realize that there is a need to consolidate varying authentication systems into one single infrastructure that can support different types of credentials, from cards and tokens to interactive voice response technology. Gartner has coined the term "versatile authentication" to describe a platform used to manage all credentials.

-1-

1  2  

   Next Page

Explore Our Topics

  • EDITOR'S BRIEFING
  • Virtual Conferences
  • Webinars
  • Roundtables

BPM in Action

March 10, 2011

The sixth annual BPM in Action 2011 Virtual Conference will explore cutting-edge market developments in BPM and describe how to leverage them for improved business operation and performance. More

View All Virtual Conferences

Smart Case Management: Why It's So Smart.

Date:Nov 05, 2009
Time:12:00 PM ET- (17:00 GMT)

REGISTER TODAY!

Date:Oct 29, 2009
Time:15:00 PM ET- (19:00 GMT)

REGISTER TODAY!
View All Roundtables
  • Research Library
  • Podcasts
  • News

Joe McKendrick: Part II of II: Designing Evolve-ability into SOA and IT Systems

In part two of Joe McKendrick's recent podcast with Miko Matsumura, chief strategist for Software AG, they talk about how SOA and IT systems need to change and grow and adapt with the organization around it.

Listen Now

Phil Wainewright: Helping Brands Engage with Social Media

Phil Wainewright interviews David Vap, VP of products at RightNow Technologies, and finds out how sharing best practices can help businesses understand how best to engage with online communities.

Listen Now

Peter Schooff: Making Every IT Dollar Result in a Desired Business Outcome: Scott Hebner of IBM Rati

Scott Hebner, Vice President of Marketing and Strategy for IBM Rational, discusses a topic on the top of every company's mind today: getting the most from IT investments.

Listen Now

Jessica Ann Mola: Where Will BI Fit In? Lyndsay Wise Explains

In BI, this tough economy and the increasing role of Web 2.0 and MDM are certainly topics on people's minds today. WiseAnalytics' Lyndsay Wise addresses each of them in this informative podcast.

Listen Now

Dennis Byron: Talking with...Deepak Singh of BPM Provider Adeptia

Deepak Singh, President and CTO of Adeptia, joins ebizQ's Dennis Byron in a podcast that gets its hand around the trend of industry-specific BPM.

Listen Now
More Podcasts
  • Most Popular
  • Quick Guide
  • Most Discussed

Quick Guide: What is BPM?

Learn More

Quick Guide: What is Event Processing?

Smart event processing can help your company run smarter and faster. This comprehensive guide helps you research the basics of complex event processing (CEP) and learn how to get started on the right foot with your CEP project using EDA, RFID, SOA, SCADA and other relevant technologies. Learn More

Quick Guide: What is Enterprise 2.0?

A lot of people are talking about Enterprise 2.0 as being the business application of Web 2.0 technology. However, there's still some debate on exactly what this technology entails, how it applies to today's business models, and which components bring true value. Some use the term Enterprise 2.0 exclusively to describe the use of social networking technologies in the enterprise, while others use it to describe a web economy platform, or the technological framework behind such a platform. Still others say that Enterprise 2.0 is all of these things. Learn More