In today’s world of online banking, a dramatic rise in threats to security is prompting financial institutions to identify, analyze and enhance security processes. Multifactor authentication (MFA), the use of a second level of customer authentication in addition to the standard user ID and password, is one of the most effective ways to deter fraudulent online activity. Premier MFA from Fiserv offers two effective options to protect your Internet banking customers, Premier MFA Security Tokens and Premier MFA Device Security.

Premier MFA Security Tokens

When logging in to Internet banking sessions using Premier MFA Security Tokens, customers use both a random one-time password (OTP), and their personal identification number (PIN). A new OTP is generated by a security token – a small, portable device – during each login. Available for your business Internet banking customers through PremierEcorp, these “connectionless” devices provide an “air gap” between the token and the network, eliminating the need for connection to a hosting device that might be infected. The tokens cannot be duplicated, remotely hacked or spoofed.

Delivered in an “unregistered” state, tokens are activated by customers during their PremierEcorp Internet banking session. It takes just a few seconds to gather a token’s serial number and define a PIN. A security question and e-mail address are also gathered to assist in reporting a lost or damaged token. Available for licensing in a variety of styles, tokens can be customized to fit your financial institution’s corporate branding.

Premier MFA Device Security

Premier MFA Device Security is a password-enhanced device fingerprint solution that identifies each customer based on a password and the specific computer being used. The solution is available for your consumer Internet banking customers through PremierEcom, and your business Internet banking customers through PremierEcorp.

Premier MFA Device Security examines the customer’s computer and registers it with a single identifier (a device ID) based on a number of characteristics to create a one-of-a-kind electronic fingerprint that it verifies each time a customer logs in. This prevents criminals from accessing a customer’s account, even if they possess the username and password. For customers with more than one PC, supplemental authentication through question and answers, or by e-mailing a one-time password, confirms the user’s identity. This easy-to-use approach assures the financial institution that the customer is legitimate, and customers that they are truly at their financial institution’s website.