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Federal Bank Goes LIVE On Finacle-Enabled Two-Factor Authentication To Strengthen Its Security Framework
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Saturday, September 15, 2012:
Infosys, a global leader in consulting and technology and Federal Bank, one of the leading private sector banks in India, today announced the successful integration and implementation of Finacle enabled Two-Factor Authentication (2FA) solution to strengthen the bank’s existing robust authentication system for its corporate and retail Internet banking customers.
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Finacle from Infosys, through its strategic partnership with CA Technologies, a leader in IT management solutions including identity and access management software, has put in place a vigorous security framework. Built on CA Auth Minder™ (formerly CA Arcot Web Fort®)Versatile Authentication Server and PKI soft credential, CA Arcot ID®), the platform provides two-factor authentication helping organizations provide customers with robust security and a superior user experience at a low cost of ownership. The solution helps ensure mutual strong authentication between the bank and the end-user enabling an easy and transparent user login experience. This solution supports both retail and corporate Internet banking channels across multiple form factors like hardware token, software credential (CA Arcot ID) and One Time Password (OTP). The solution also supports Public Key Infrastructure (PKI), dynamic pass codes which protects customers against various kinds of existing and emerging security threats such as phishing, man-in-the-middle, brute-force attacks, and replay attacks to name a few.
Mr. K P Sunny, CIO, Federal Bank said, “Protecting our customer’s interest by investing in secure channels at Federal Bank continues to be our focus. Through our strategic partnership with Finacle we were confident our adoption of CA Technologies two-factor authentication solution would be implemented successfully and on time. Post the deployment of two-factor authentication module, we have built the capability to provide extra security to our customer’s online transactions and enhance our end user’s experience”
Mr. Venkatramana Gosavi Associate Vice President – South Asia Finacle,Infosys said, “Protecting a customer's identity while he is on any digital banking channel is a primary concern for banks. Identity thefts not only cause financial losses to customers, but also directly impact the bank's reputation and business. With this implementation Finacle e-banking solution ensures seamless security as it delivers robust protection in the form of two-factor authentication. We are excited about the implementation of this solution at Federal Bank where Finacle-supported CA Technologies authentication solutions will provide a secure environment to its users worldwide”.
Mr. Raj Gopalakrishna, Vice President, Security and Innovations, CA Technologies said, “Being a leading provider of advanced authentication security solutions, we are proud that Federal Bank is among the adopters of two-factor authentication technology from Finacle e-Banking in India. With our advanced authentication solutions, customers will have an optimized user e-banking experience with an increased level of security.”
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