Finance and Insurance
The Challenge
The financial services industry, including banks, exchanges, credit unions, investment brokerages and insurance providers, is challenged with providing excellent customer service while securing access to confidential data. Loss of information in financial services can severely impact the firm's reputation and wipe out years of efforts in building trust with customers. In addition, financial institutions are burdened with compliance regulations such as GLBA, SOX and SB1386 that they must adhere to.
Online transactions are another concern. Passwords, in addition to being inconvenient, are not enough to secure access and verify user identity. Further, in light of the recent repeated battering the financial industry has taken, industry scrutiny has increased. Regulators, shareholders and customers seek more transparency and accountability. Management seeks operating cost reductions. IT must ensure financial information integrity and personal information privacy while providing fast access to information. The complexity of delivering information from among the databases, business units, suppliers and mergers grows daily.
The Solution
DigitalPersona solutions augment passwords and tokens with fingerprint authentication-increasing network security, securing Internet transactions, improving customer service and assisting with regulatory compliance. Financial companies can deploy DigitalPersona's products incrementally, benefiting from immediate ROI through strong password solutions and later extending the platform to secure communications and documents. Additionally, DigitalPersona Online can provide integration with web-based financial services for customers, reducing the risk of identity theft and account breaches while improving the overall customer experience.
The DigitalPersona Pro solution provides financial companies increased protection and improved productivity through:
Increasing Security
- Increasing corporate security by augmenting password-based authentication that is susceptible to social engineering attacks, hacking, spoofing and lax security practices.
- Securing Internet transactions and reducing business liability associated with protecting online identity information.
Complying with IT Regulations, Mandates and Corporate Policies
- Increasing regulatory compliance and accountability by providing unique identifier for each user at the point of transaction.
- Enabling irrefutable audit trails to assist with regulations such as Sarbanes-Oxley, Gramm-Leach-Bliley Act, State Security Breach Laws (e.g. California SB 1386), and Federal Financial Institutions Examination Council (FFIEC).
Improving Operations and Productivity
- Reducing user workstation lock-out due to expired or forgotten passwords.
- Enhancing customer service responsiveness by eliminating inefficient password implementations, allowing customer service representatives quick access to applications and customer financial data.