Overview for Banking, Financial Services and Insurance (BFSI) companies

Online banking, trading and other similar related financial work flows has been embraced by BFSI companies all over the world as a way to increase their efficiency, offer new services, improve convenience of access for their customers, and lower operating costs. However, with the rapid and well known increase of cyber attacks and fraud threatening consumer confidence, banks are acknowledging the need to provide a greater degree of confidence and stronger authentication to its customers using the online banking channel.

Current options available, however, can still come up short. The encryption of a bank’s online environment can be overcome by hackers gaining access to a customers PC and then keystroke logging, password cracking or even by social engineering. Security tokens can be compromised by fraudsters. Similarly, PKI, Biometrics, Smart Cards and most other stronger forms of encryption in their current state are usually too inconvenient to use by customers, and tend to be too costly or hard to deploy to justify their use.

"EzIdentity was selected by us due to its strength of security features and ease-of-use. We liked the fact that the EzIdentity gave three levels of security to our customers without changing the customer behavior and easily integrated into our multiple online banking applications. As promised, the 2FA tokens fitted seamlessly into our existing technology infrastructure."

- Anand Rao, Asst. Vice President, Internet Banking, AXIS Bank.

EzIdentity is a next generation, multi layered, multi token identity protection solution that offers not just 2FA but Enhanced 2FA protection. It is a non intrusive, peripheral, and centralized platform that brings ‘what you have’ (Second Factor) and ‘what you are’ (Two Way) authentication by offering regulation compliant 2FA with a stronger, yet transparent, layer of mutual authentication. EzIdentity adds protection against next generation attacks to which conventional 2FA alone fails completely. It is the solution designed to deliver a cost effective, centralized authentication platform especially for the large volume deployment required for various bank applications and large customer bases, offering:

- Multiple application integration with a minimal of IT support and allowance for future scalability.

- A choice of 2FA Tokens with controlled rollout and life cycle management.

- A solution that is ‘Future Ready’ for attacks with multi layered authentication.

For further information on EzIdentity please refer to the documents available in the sidebar.