FFIEC Compliance Solution - Overview

The Federal Financial Institution Examination Council (FFIEC) guidelines require online banks to adopt a variety of multi-factor authentication measures to secure online access to account information and transaction functionality. The FFIEC issued these highly visible guidelines in response to increasingly sophisticated electronic attacks that compromise personal identity information and erode customer confidence in online banking security. If you are a financial institution, you risk regulatory non-compliance penalties and customer defections from online services if you fail to deploy solutions that meet FFIEC guidelines.

Arcot's FFIEC solution includes two products to protect your online banking activities and meet FFIEC guidelines: RiskFort risk-based authentication and WebFort strong authentication. You can add one or both layers to protect from identity fraud and complement your existing security infrastructure.

• Arcot RiskFort is your first line of defense against identity fraud. It blocks fraud in real-time, without any interaction from your users. It assesses the fraud potential of every online transaction by examining a range of data collected automatically. It calculates a risk score and uses it along with your business rules to approve or decline the transaction, ask for additional authentication, or alert a customer service representative. RiskFort works to reduce fraud in both online portal and online shopping applications.
  
  
• Arcot WebFort combined with the ArcotID software smart card is a 100% software, two-factor, strong authentication solution. It adds the strength of PKI to any login process while maintaining the simplicity of a username/password interface. Your users' login experience and your business processes do not have to change. You can add PKI-strength authentication to the SSO or access management products you already have. There are no additional elements of a PKI infrastructure to install or deploy—WebFort includes everything you need and provides the lowest cost of ownership of any two-factor authentication solution on the market today.