Secure Finance Best Practices
Comodo Two Factor Authentication is built around a best practices authentication model for financial institutions—one of Mutual Authentication. It delivers robust user authentication for online services, compliance with FFIEC regulations and features the lowest TCO around.
Do Your Customers Trust You?
Secure finance best practices must start with Trust. Trust must be verifiable and reciprocal, so that financial institutions can authenticate the user and the user can authenticate the financial institution. Much of the FFIEC guidelines (and, not surprisingly, the industry's solutions) only focus on two factor authentication solutions. That's because single factor authentication (i.e. a username and password) is too easy for fraudsters to exploit. Mutual authentication addresses this vulnerability.
Unfortunately, even a two factor solution isn't a complete secure finance solution. Unless the user authenticates your institution's website as legitimate, two factor authentication doesn't provide security to the customer, may not drive user confidence, and could expose you to a man-in-the-middle attack. This is why Comodo Two Factor is also a Mutual Authentication solution as well. It protects your online content and your customer.
Challenges Financial Institutions Must Address
Challenge 1. Authenticate users by providing identity certification for customers during an online transaction.
Challenge 2. Provide users with a way to verify your site identity to minimize a man-in-the-middle attack and other common phishing attacks.
Challenge 3. Provide a secure transaction environment that prevents malware and bank phishing schemes.
When you solve these challenges, you've created trust between you and your customer. You've created a secure environment for online transactions. Comodo Two Factor including Mutual Authentication is key to this strategy.
Wondering how Comodo Two Factor stacks up against other solutions? Read how biometrics, tokens, questions, and one-time passwords aren't as secure as our solution.
Speak with a Comodo expert to share your security challenges and benefit from our experience.