Most Read
- SEC Short Sale Rule Could Create a Bubble in Financial Stocks
- Wall Street Outsourcing to New, Exotic Corners of the Globe
- Analytics Help Firms Turn Data Into Opportunity
- Cisco Global Exchange Study Ranks Latency Among Top Success Factors in Competitive Race
- DTCC, Markit to Create Single Point of Derivatives Confirmation
- BlackRock To Acquire Analytics Software Company
- NYC Financial Firms to Get New Disaster Recovery Data Center in Pennsylvania
- Deutsche, Merrill Reveal Recession-Proofing IT Strategies
December 13, 2006
A Word for the Authentication Stragglers
Cory Levine, Wall Street & Technology
In just a few short weeks, stronger user authentication should be in place for the online financial services industry, or so the Federal Financial Institutions Examination Council (FFIEC) is hoping. According to research from Aite Group, the retail brokerage community should be ready for the FFIEC's end-of-year deadline, but there's nothing like a little last-minute advice. Authentication solution provider Cogneto offers some things to think about before leaving for your holiday vacation.
Cogneto made three recommendations for firms still considering how to meet FFIEC guidelines:
Information security programs must identify and assess the risks associated with Internet-based products and services:
The FFIEC states that financial institutions complete an overall assessment of their current security requirements. Cogneto recommends that organizations look for a solution that will constantly assess the risk climate in which transactions are taking place. A system that continuously analyzes risk in real time will go a long way in helping organizations adapt to future threats.Information security programs must identify risk mitigation actions, including appropriate authentication strength:
The appropriate risk mitigation technique depends entirely on the environment in which a transaction is being conducted. Financial organizations should stay away from solutions that rely on a single method of authentication, and instead find solutions that take a consensus approach to security. Solutions that evaluate risk at multiple levels, each weighted differently depending on the situation, give financial institutions the power to adapt to ever-changing customer profiles and situationsInformation security programs need to measure and evaluate customer awareness efforts:
User education is key to successfully preventing social engineering attacks such as phishing. Technology alone cannot solve the problems of fraud and ID theft, and users must also learn how they can play their part in the security process. Financial institutions should implement solutions that not only protect users, but also provide them with tools that will allow them to better protect themselves. Interactive help and educational components help should be a part of any FFIEC-compliant security solution.
Posted by Cory Levine at 03:11 PM
This is a public forum. CMP Media and its affiliates are not responsible for and do not control what is posted herein. CMP Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers.
Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Media's Terms of Service.
Important Note: This comment area is NOT intended for commercial messages or solicitations of business.
Greg MacSweeny Columns
Greg MacSweeneyIn a Matter of Months, CIOs’ Agendas Turned Upside Down
Early in the summer of 2007, Wall Street was counting its good fortune. In early summer 20...
Former CIO Gavazzi Launches Risk Alert Provider
Where Are They Now? Life After Wall Street
Where Are They Now? Mitchel Lenson, Former Deutsche Bank Group CIO
Larry Tabb Columns
Larry TabbClearing and Settlement Top-of-Mind for Front-Office Execs
In addition to the excitement in the U.S., the real focus is occurring in Europe, where th...
Risk Management IT Comes to the Forefront in the Wake of Subprime Credit Crisis
In a Tumultuous Economy, Wall Street Must -- and Will -- Find a New Model
CHECK THIS OUTNovell Real Time Linux Webcast SeriesIn order to succeed, companies must be able to respond quickly, deliver superior value and quality of service, and carefully manage their costs. In this series of brief webcasts, you will learn how SUSE Linux Enterprise Real Time from Novell enables organizations to respond quicker by delivering low latencies, deliver increased value with fast response times, and better manage costs. |
EventsLive Events:Accelerating Wall Street 2 October 02, 2008  Buy-Side Trading Summit 2008 November 16-18, 2008 |
White PapersLevel 3 Connectivity KitStay ahead of the bandwidth curve. The Level 3 Connectivity Kit provides full resources to help you make informed decisions regarding your network infrastructure. Download the Data Center Networking Strategies for Financial Services Firms White Paper; Business Class Ethernet: Trends in Perspective eBook and BC/DR Best Practices for the Data-Intensive Enterprise Gartner Webcast Surviving and Thriving in a Challenging Market Learn how financial services firms can use customer-centric strategies and tools to maximize client value and loyalty, gain insight into new opportunities, and do more with less, counteracting market volatility. |
Marketplace |
Career CenterReady to take that job and shove it?
|
Most Recent Job Posts:
* Lowe's seeking Manager of IT Research in Mooresville, NC
* Hebrew Senior Life seeking Senior Informatics Analyst in Roslindale, MA * UCLA seeking Programmer/Analyst IV in Los Angeles, CA * T-Mobile seeking Program Manager 3 in Snoqualmie, WA * Comcast seeking Tier 4 CRAN Network Engineer in Chelmsford, MA For more tech jobs in the industry, visit Wall Street & Technology's Career Portal. |
