HID Global protects banking
Authentication experts have developed a strong authentication portfolio to combat fraud attacks
Secure identity solutions expert HID Global is fueling adoption of layered authentication in the banking sector, as part of a cost-effective security strategy for protecting online and mobile transactions from anywhere, and from any device.
"Because the explosive growth in online banking has attracted more sophisticated fraud attacks and increased regulatory oversight, it has become increasingly critical to move end users beyond simple, static passwords to strong, adaptive authentication that ensures accounts can only be accessed by authorised individuals, without intruding on the online convenience," said Christy Serrato, solutions marketing, Identity Assurance, with HID Global. "We are seeing and serving accelerating demand for seamless, risk-based solutions that enable banks to tailor authentication choices for a wide variety of customers using their on-line and mobile services."
One of HID Global's key focus areas is to make it easy for financial institutions to understand and interact with its ActivID authentication solution. According to CEB TowerGroup, HID Global features the broadest authentication features in the market, offer experience consistency across service channels and its customer self-service capability delivers intuitive management of credentials.
"By combining Customer Engagement functionality with malware detection capabilities, HID provides authentication that is both foundationally sound and forward-looking" said Jason Malo, research director, Retail Banking and Cards at CEB Towergroup. "The solution's ability to support external authentication credentials provides flexibility for firms that have different implementations or multiple legacy systems."
HID Global's ActivID authentication offering is designe to promote five critical layers for true, multi-factor authentication to enable trusted online transactions: strong user authentication; advanced device authentication; browser malware protection; transaction-level authentication/pattern-based intelligence; and application hardening.
This multi-layered approach is designed to enable institutions to layer online fraud protection with secure access to online services and cloud-based applications.
HID Global's unified approach is delivered via an integrated authentication platform so organisations can easily manage credentials across a broad range of users and device types, while delivering consistent yet convenient protection to combat the latest fraud concerns that financial institutions are facing worldwide.