Abstract
Overview
Financial institutions (FIs) must implement effective authentication solutions
that address spe-cific, often mutually exclusive threats from different
channels, while remaining in compliance with FFIEC guidelines which pertain to
both telephone and online channels. With phone usage increasing over
historical levels, this report provides comprehensive coverage and analysis of
consumer preferences toward telephone banking, and evaluates the
authentication methods currently being used by FIs for the phone channel.
Building upon robust consumer data gener-ated from a survey of 3,215
respondents, Javelin also interviewed several top FIs and authenti-cation
solutions providers to obtain qualitative input on current phone security
efforts and market trends. Finally, Javelin investigates several well-known
phone authentication products.
Primary Questions
- How can FIs secure the phone channel, while maximizing efficiency and
reducing costs?
- Which phone authentication solutions provide the best security?
- What phone authentication solutions are FIs using?
- How many consumers conduct phone banking transactions (compared to other
channels)?
- How secure do consumers feel using the phone channel?
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