Source: Passfaces Corporation
Passfaces Corporation, the only provider of cognometric authentication solutions, today announced the availability of Passfaces Financial v3.0.
Passfaces Financial bundles software, support services and consumer promotion into a complete package that gives banks, credit unions and other financial service providers everything they need to deploy Passfaces strong authentication for consumer access to online financial services while supporting the business risk management objectives specified by the FFIEC.
"Passfaces is the only product available today that offers customers both enhanced security and usability when banking online. Furthermore, because it requires no user hardware or software installation and leverages the existing password authentication infrastructure, it can be rolled out to a large customer base extremely rapidly and cost-effectively," said Paul Barrett, CEO of Passfaces. "We understand the dynamics of meeting regulatory requirements and addressing ongoing security issues, as well as being sensitive to customer demands for convenience and reliability."
Passfaces Financial 3.0 includes a function that randomizes the configuration of the face challenge grids for every user. Attackers attempting to harvest multiple users' configuration data from a financial institution's web site will be detected and can be 'blacklisted' pending further action. Passfaces works with existing security systems to supplement or replace the use of passwords for system access, using a set of faces as a secret authentication code. Because Passfaces validates the actual user it provides a highly reliable strong authentication solution for all online transactions.
"Most banks and credit unions recognize that providing strong authentication is an essential first step in meeting FFIEC requirements and maintaining the trust of their online customers," said Barrett. "However, the cost and complexity of solutions developed for the enterprise environment, such as hardware tokens, are prohibitive for large-scale consumer deployments. Passfaces' user-proof security, ease of integration, and inherent usability make it a natural choice for online financial services. Passfaces is the only security technology I know that users are enthusiastic about using."