What is multi-factor authentication?
In 2005, the Federal Financial Institutions Examination Counsel (FFIEC) released a report recommending that banks and other financial institutions upgrade their methods for authenticating the identity of customers using online products and services. The report recommended that all relevant companies have a plan in place to transition from single factor authentication to multi factor authentication (MFA) by January 1st, 2007.
Multi Factor Authentication is an online security feature that is now a standard part of your enhanced Online Banking sign-in procedures as part of our ongoing commitment to help protect you against identity theft and fraud. Multi Factor Authentication prevents unauthorized access to your accounts and reinforces the fact that you are on a valid website with the use of an image, a phrase and three challenge questions that are known only to you and your financial institution.
With the Multi-Factor Authentication security feature, your identity is verified to the system in two distinct ways, and the OneCalifornia Bank site is identified to you as the genuine site instead of that of a fraudulent imitator. The following security features are used: Upon initial log-on, you will be invited to allow the system to obtain certain metrics from your machine (called “registering” the machine). These metrics will allow the system to uniquely identify your machine on subsequent access attempts. Once you have signed up for MFA Security, you will choose an Authentication Image from the image database, and associate a Pass Phrase with that image. The image and phrase will be presented to you each time you log on to the system; since no one else should know your image/phrase pairing, you can be sure you are accessing the OneCalifornia Bank site. As part of your MFA registration, you will also be required to select three questions as “challenge” questions you wish to use for
Standard Bank and Trust is proud to deliver the highest level of security for our Online Banking customers. An additional layer of security has been added to our log in process to both our Consumer and Business Online Banking Services. This will help ensure that your information is secure, protecting you from fraud and identity theft. Nothing within either service has changed, the only difference you will notice is the actual login process. Click here to learn more about how Multi-Factor Authentication will help protect your account information.
