RSA and VeriSign Rated Best-In-Class For Multi-Channel Authentication Technology

Sep 29, 2009

RSA and VeriSign Rated Best-In-Class For Multi-Channel Authentication Technology


Javelin Study Also Identifies M-Com and Tyfone As Best-In-Class For Mobile Banking Authentication

San Francisco, CA, September 29, 2009 -
Javelin Strategy & Research (www.javelinstrategy.com) today released a report that provides analysis and rankings of authentication technologies and vendors. The report, Multi-Channel Authentication Via Mobile Banking, helps financial institutions with the decision process and implementation of FFIEC-compliant multichannel authentication strategies and evaluates authentication technologies as they apply to individual and multiple channels; the likelihood of consumer adoption; and effectiveness against fraud.

"Institutions are facing growing risks as they seek to securely and conveniently authenticate customers across multiple channels," said James Van Dyke, President and Founder. "With close to 90 percent of adults owning a handset, mobile banking is poised for explosive growth. Yet institutions face decisions surrounding strong authentication to determine the best approach that covers all channels. Institutions must balance the needs for the highest effectiveness against fraud with the greatest convenience for their customers. If implemented correctly, mobile banking can strengthen cross-channel authentication."

In the report, Javelin identifies the top five technologies for cross-channel authentication - image-based mutual authentication, device recognition, out-of-band, public key infrastructure and knowledge-based authentication. Javelin also ranked 28 vendors that can assist financial institutions with the implementation of FFIEC-compliant multichannel authentication strategies.

RSA and VeriSign were selected as Best-In-Class for authentication technology while M-Com and Tyfone earned Best-In-Class for mobile banking authentication.

Key Findings of the Multi-Channel Authentication Via Mobile Banking Report:
  • Mobile devices must be integrated into authentication and will be used for authentication across all channels.
  • Consumers ranked mutual-authentication image recognition as best for ease-of-use.
  • Consumers rated knowledge-based authentication as the most effective authentication technology and the most preferred method among consumers for authentication of higher-risk transactions - 14% claimed it would increase their online shopping.
"A multilayered defensive strategy offers the most effective authentication solution for securing an institution's assets," said Javelin Risk, Fraud and Security Analyst Robert Vamosi. "As attacks grow increasingly sophisticated, multiple, layered authentication technologies mitigate the risks posed by single points of failure."

About Javelin Strategy & Research

Javelin provides superior direction on key facts and forces that materially determine the success of customer-facing financial services, payments and security initiatives. Our advantages are rigorous process, independent position, and expert people. For more information about this or other Javelin reports, please visit www.javelinstrategy.com/research or contact Elizabeth Travers at (925) 225-9100 ext. 31 or etravers@javelinstrategy.com.

Editor's Note: To arrange an interview with Mr. Van Dyke, Mr. Vamosi and/or view research on this topic or a similar topic (available to qualified members of the press), please contact Crystal Mendoza at +1.925.225.9100 ext. 35 or cmendoza@javelinstrategy.com.