Schwab signs for VeriSign authentication technology

Schwab signs for VeriSign authentication technology

US brokerage Charles Schwab is teaming with California-based digital security firm VeriSign to provide two factor authentication and fraud detection services to its online clients.

Under terms of the agreement, Charles Schwab will deploy VeriSign's Identity Protection (VIP) suite of fraud detection and authentication services to secure client login and transaction information.

VeriSign says its VIP fraud detection service uses advanced anomaly detection technology to detect fraudulent logins and transactions in real-time. The service also adapts to a consumer's unique usage habits. The vendor's VIP authentication service allows a business to easily issue and accept multiple credentials from each user.

Charles Schwab said in February that it was introducing a fraud protection programme for all its customers and would reimburse all losses that arise from unauthorised account activity.

Andrew Salesky, senior vice president, client Web services, Charles Schwab, says: "By deploying VIP, we'll be able to provide our clients a comprehensive set of online security solutions in addition to the Schwab Security Guarantee."

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