Proactively protect your customers from Internet fraud
With Internet crime on the rise, banks are looking for ways to prevent fraud and build customer confidence in conducting online transactions. FFIEC regulations and guidelines require banks to implement multifactor authentication. Jack Henry Banking’s Multifactor Authentication solution, offered through a strategic alliance with RSA Security, Inc., provides an end-to-end, multifactor authentication solution that adds an additional layer of protection without changing the way customers interact online.
Multifactor Authentication – Identity authentication for online transactions
Multifactor Authentication protects bank customers from online predators by requiring multiple pieces of information to validate identity while ensuring compliance with regulatory requirements and FFIEC recommendations. This state-of-the-art security solution deters predators who commit fraud and identity theft by exploiting single-factor authentication – which uses only one piece of information, such as a password – to validate identity. Multifactor Authentication automatically monitors accounts for unusual activity based on account history and requires customers to verify their identities by answering pre-selected challenge questions if unusual activity is detected. An optional module allows customers to select from a library of images that can be displayed upon log-in to further verify that they are connected to a bank’s legitimate website rather than a fraudulent copycat site.
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