Against such background and in response to requests from existing users and prospects alike, IDOM have recently completed the development of a strong authentication capability into their cost effective, highly functional, BM+ Internet Banking Solution.
"We are currently in negotiations with a number of banks in the Wealth Management and Private Client arena whose clients now consider the internet as a âmust haveâ channel" said Pete Bottomley, Head of Client Solutions at IDOM "and due to the value of many transactions, there is a reluctance to use just user name and password security. As a result, we have developed a strong authentication capability into BM+ Internet Banking which facilitates the use of SecureID tokens and SMS passcodes."
Pete continued, "Whilst many banks already use the SecureID tokens internally and manage the logistics âin houseâ, creating the infrastructure and correct levels of procedures and security to support a customer base is a different proposition. Consequently, we have been working closely with Signify, based in Cambridge, U.K. who offer banks the option of a fully managed service.
John Stewart, Signifyâs CEO explained;-
"When managing your bank account across the Internet, your login credentials are the only line of defence stopping other people getting access to your money. It's well accepted that passwords are just too easy to guess or steal to be relied upon to protect these high value assets.
If the banks insist on 'two-factor' authentication, the presentation of a card plus PIN, to protect access to your cash via an ATM, surely the same level of protection should be enforced before you can get at the same money via your Internet account?
It's our job at Signify to work with IDOM to make the distribution and management of secure identity credentials for Internet banking such as SecureID tokens, SMS pass codes etc as simple, efficient and customer friendly for the banks as possible."