What is multi-factor authentication?
In order to greatly increase online security and help prevent identity theft, Patelco has introduced a new, required security feature as part of our online banking site called Multi-Factor Authentication (MFA). Many online banking sites utilize only one “factor” — an account number and password — to authenticate access to your online account information. Patelco’s new, second factor will be an access code sent to you from us by e-mail, telephone, or by sms/text message to your cellular phone. All U.S. financial institutions are, or soon will be, implementing MFA in order to properly adhere to new regulatory compliance laws.
At The Golden 1 Credit Union, we take the safety and security of your personal information very seriously. As part of our ongoing efforts to employ the latest Internet security technology, we are incorporating Multi-Factor Authentication (MFA) into Golden 1 Online, our Internet Banking service. MFA is a series of technology tools for Golden 1 Online that helps protect your account from fraudulent transactions. Additional authentication factors, combined with your account number and password, provide additional layers of security. Most of these security enhancements are happening automatically and will not require any action on your part. The new MFA security will include a variety of monitoring activities. For example, one feature will track the type of computer you typically use to access your account. If you sign on to Golden 1 Online from the same computer on a regular basis and then log on from a different computer, you’ll notice some additional security measures. We may ask you so
Internet Banking technology with Multi-factor authentication provides you with the best security possible when accessing your account online. Multi-Factor Authentication consists of validation and authentication of an individual using more than one method of verification. Generally, this is accomplished by verifying three things: 1. Something you are, in the form of identifying information like your dog’s name or where you went to high school. 2. Something you have, for example a driver’s license, or a security token. 3. Something you know, such as a password or pin number. Item #1 – You will need to create five (5) questions and answer pairs. This allows us to verify that you are in fact, you, by presenting you with a question that only YOU know the answer to. If you don’t answer the question correctly, you will not gain access to your accounts. Item #2 – You will also need to create a “Security Key”. This allows you to verify that you have reached our Internet Banking site, and not s
Multi-factor authentication is any form of authentication (such as logging into Online Banking) that requires more than one independent piece of information to verify identity. For example, knowledge of a password is one factor, and knowledge of a secret question may be another. Nationwide BankSM Online Banking uses multi-factor authentication to ensure that only you can access your account.
