Secure Online Banking
Expand the use of e-banking by increasing security
Online banking is a tremendous success for financial institutions and their customers. Customers enjoy the convenience and multiple services offered with online banking. In general, they are more active bankers; they have many more contacts with their financial institutions, representing greater opportunities for marketing and increased cross sell. This represents an opportunity for financial institutions to not only drastically reduce transaction costs when compared to branches or ATMs, but to provide a platform for additional services to offer customers.
However, due to the popularity and growth of online banking, it has become a target for online fraud. Internet criminals are taking advantage of weak password security for user authentication to conduct internet attacks such as phishing, man-in-the-middle, and keystroke logging. This increases risk for both banks and their customers which could inhibit the growth of online banking.
Designed to reduce the risk of online fraud, Arcot offers a comprehensive set of authentication and fraud detection solutions that can provide risk-appropriate authentication based on the type of security required for each online banking application.
Key Features and Benefits:
- Transparent to legitimate customers – Arcot RiskFort Web fraud detection works in real-time to assess the fraud potential of online transactions and detect suspicious access to accounts.
- Match authentication method to level of risk – Arcot WebFort versatile authentication lets you choose the type of authentication – ArcotID, ArcotOTP, Q&A, site identification, OATH token, etc - based on the security requirements of the application and the Risk score calculated by RiskFort.
- Cost effective – Arcot solutions provide the lowest cost of ownership of any authentication solution on the market today
Arcot layered authentication approach: Web fraud detection and risk-appropriate strong authentication methods
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