HID Global continues its drive to help financial institutions secure online banking services that nearly half of all their customers prefer for convenient account access
HID Global continues its drive to help financial institutions secure online banking services that nearly half of all their customers prefer for convenient account access. Through its forward-looking Identity Assurance portfolio and channel partnership initiatives, the company is fueling adoption of layered authentication as part of a cost-effective security strategy for protecting online and mobile transactions from anywhere, and from any device, more frequently than ever before.
“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 authorized 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. In its retail banking and cards practice technology analysis, CEB TowerGroup awarded HID Global the best-in-class Customer Engagement rating, highlighting that its authentication factors, the broadest 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 has also broadened and strengthened its banking partnership initiatives with its Identity Assurance Technology Partner Program, which fosters deeper collaborative solution development engagements. Partners such as Temenos participate in the program to leverage layered authentication capabilities based on HID Global's ActivID Appliance and ActivID Threat Detection Service for its highly flexible internet and mobile banking solutions. This and other partnerships play a key role in meeting customer requirements and the increasing demand for secure next generation online financial services, with CEB TowerGroup expecting online transactions to grow by a multiple of 1.5 between 2009 and 2013 and mobile transactions to grow 10-fold during the same period.