A new report by leading independent research and advisory firm Financial Insights explores technology solutions for customer authentication. The report, titled “Locks for All Kinds of Doors: Authentication Solutions Find Their Niche,” looks at innovative, unconventional and emerging solutions offered by four software vendors and examines critical functionality and key considerations for retail financial institutions.
According to Financial Insights, there are numerous providers of customer authentication solutions that can protect retail institutions, yet most do not adequately address the customer experience arguably the most important consideration when implementing a customer authentication solution. The four vendors analyzed in the report offer solutions that should bring the concepts of knowledge-based, token-based, and attribute-based authentication out of the abstract and into the realm of practicality.
“Identity management is made up of three components verification, authentication and business policy and it’s customer authentication solutions that serve as the shortcut, or proxy, for identity verification procedures,“ says Dennis Behrman, analyst in Financial Insights’ Retail Financial Services group. “There are key considerations financial institutions must consider when selecting an authentication solution including: cross-channel integration, policy-level integration, degree of security improvement, future interoperability, and most importantly, preserving the customer experience.”
For more information on obtaining this report, please contact: firstname.lastname@example.org.
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