TriCipher, Inc., today announced the integration of Veridâs knowledge-based authentication (KBA) technology with the TriCipher Armored Credential System. By integrating Veridâs industry leading KBA technology into TriCipherâs patented Authentication Ladder, financial institutions are provided with a highly flexible infrastructure to deploy and manage authentication services based on what the user needs to do online while protecting against Man in the Middle attacks and other emerging forms of online fraud and identity theft.
âThe combination of TriCipher multifactor authentication with Verid knowledge-based authentication provides a highly secure, non-invasive solution,â said Andy Cottrell, CTO, TriCipher, Inc. âWith this joint solution, financial institutions and their customers will benefit from increased security for a variety of online scenarios.â
Veridâs knowledge-based authentication technology presents consumers with a series of personalized questions based on deep background information derived from a variety of public and non-public sources. The technology guides the consumer through an intuitive and interactive process until identity is confirmed. TACS is the first authentication system that enables companies to deploy and manage multiple types of credentials from a single infrastructure, allowing them to increase authentication strength based on risk in real time and providing an easy growth path as regulations and attacks change.
Once registered by Verid, the financial institution issues the user a TriCipher credential. When re-verification is needed for a high-risk or questionable transaction, a new machine is registered or to add services, the TriCipher system leverages Verid. Because Veridâs KBA technology generates questions in real time based on information from external sources, it is not at risk of being stolen by an insider. In addition, because the questions change each time, attackers cannot intercept the information and reuse it at a later time.
âFinancial institutions need the advanced capabilities found in best-of-breed technologies but also want the efficiencies of interoperability,â said Chris Rickborn, COO of Verid. âOur KBA technology fits nicely into the TACS architecture and will create a solution with extensive functionality and flexibility.â