Abstract
Overview
Institutions face growing risks to their assets, legal liability and
reputations as they seek to securely and conveniently authenticate their
customers across multiple channels. With 86% of adults owning a handset,
mobile banking is poised for explosive growth. Yet, with each new channel,
institutions face a multitude of decisions surrounding strong authentication
to determine the best approach that covers all channels balancing the needs
for the highest effectiveness against fraud with the greatest convenience for
their customers. Implemented correctly, mobile strengthens cross-channel
authentication, covering online, mobile, ATM, branch, and call center. Javelin
Strategy & Research provides an analysis and ranking of 11 authentication
technologies, 15 authentication technology vendors, and 13 mobile banking
solutions vendors to assist financial institutions in the decision process and
implementation of their FFIEC-compliant multichannel authentication strategy.
The model evaluates authentication technologies for application to individual
and multiple channels, likelihood of consumer adoption and effectiveness
against fraud.
Primary Questions
- What types of strong authentication technologies strike a balance among
application to multiple channels (online, mobile, ATM, branch and call
center), consumer usability and the likelihood of adoption, and effectiveness
as a security measure?
- Which authentication solution vendors offer the highestrated strong
multichannel authentication technologies that will appeal to the greatest
number of consumers?
- How can institutions best integrate the mobile channel into their existing
authentication strategies?
- What authentication technologies work best in the real world? Which work
best in the online world?
- Which authentication technologies are the most secure?
- Which mobile banking solution vendors offer the highestrated
authentication options that work across multiple vendors?
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