TriCipher Solutions: Online Banking
Banks have embraced the online channel as a way to lower costs, offer new services, and improve customer satisfaction. However, the online banking channel is threatened by rampant identity theft and fraud, which have decreased consumer confidence. Everyone, including customers, online businesses, and government regulators recognize the immediate need to move beyond passwords to an easy to use, secure, and low cost system that will prevent fraud and identity theft.
"A single high-profile incident that is picked up by the major news media could instantaneously turn a significant number of online banking users back into check-writers who frequent bank branch teller windows. Even worse, the reputation damage could ruin a bank's entire franchise."
George Tubin
Senior Analyst, TowerGroup
No More Straw Houses: The Feds Issue Guidance on Online Authentication
The existing options for establishing online identities such as passwords, cookies, pictures, and
tokens have been proven inadequate by fraudsters, while stronger forms of authentication such as traditional
PKI, Smart Cards, and Biometrics have failed to realize their potential because they are difficult to use and deploy, and simply cost too much to make business sense.
The
TriCipher Armored Credential System (TACS) is the only
unified authentication infrastructure that can provide a secure, easy to use and low cost authentication system for online banking. TACS provides more effective security than traditional
PKI, is as easy to use as entering a username/password and has a low cost per user and transaction. The TriCipher patented
multi-part credential provides unparalleled protection of a user's online identity while maintaining the familiar user experience of entering a username and password. With the secure multi-part credential as the foundation, TriCipher's Authentication Ladder™ integrates a range of authentication factors including passwords, browser cookies/certificates, PCs, portable devices, tokens, smart cards and biometrics to provide a complete authentication system.
