MULTI-FACTOR AUTHENTICATION SOLUTION FOR CUs AVAILABLE THROUGH EXPANDED STRATEGIC ALLIANCE
MADISON, Wis. – (August 1, 2006) – A server-based, multi-factor authentication solution that meets and exceeds the Federal Financial Institutions Examination Council’s (FFIEC) authentication guidelines will be offered to credit unions through an addition to the strategic alliance between CUNA and TraceSecurity. TraceAuthenticate enables credit unions to provide members the added protection of strong two-factor authentication. Two-factor authentication, which uses a challenge/response methodology, is widely acknowledged by security experts as the best way to eliminate the growing threat of account hijacking and for thwarting Internet fraud.
The product also helps credit unions to comply with the FFEIC guidelines to have a plan for multi-factor authentication, layered security, or other controls to reduce exposure to risk by Internet banking transactions. The FFEIC has given the financial services industry a deadline of Dec. 31, 2006, to incorporate their recommendation.
The product is installed at a credit union as a stand-alone server and can support a variety of authentication techniques, from a non-intrusive multi-factor authentication to the latest technology in strong two-factor authentication. The appliance is easily managed and allows members to select the level of security that is best for them, ensuring complete satisfaction at a minimal impact to members.
“TraceAuthenticate is compatible with most online banking applications, making installation and implementation seamless and efficient,” said Peter Stewart, CEO of TraceSecurity. “This type of solution is an alternative to using devices such as tokens, key fobs, and bingo cards, while exceeding the security they provide.”
“A two-factor authentication process helps lessen vulnerabilities during online transactions, making it more difficult for criminals to steal personal information,” said Wes Millar, CUNA’s senior vice president of Strategic Services. “This, combined with its manageability, made the product a perfect addition to our security solutions initiative.”
Though not required, the server can incorporate an easy-to-setup and manage client toolbar called TraceAssure that utilizes single sign-on technology while remaining transparent to the end user 99 percent of the time.
TraceAuthenticate and the TraceAssure Toolbar are two components Program, exclusively offered to credit unions through TraceSecurity’s CUNA. The program’s other component is end-user training. designed to provide the strongest type of two-factor authentication hijacking and identity theft when conducting transactions online.
For more information, go to strategicservices.cuna.org, and click Debbie Bergenske at (800) 356-9655, ext. 4340, or by e-mail at dbergenske@cuna.coop
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About CUNA Strategic Services
CUNA Strategic Services, Inc., owned jointly by Credit Union National Association
unions with access to high quality products, services and technologies delivered
through volume pricing and strategic program development. CUNA serves more than
which are owned by more than 88 million consumer members. Credit unions are
financial services to people from all walks of life. For more information, visit www.strategicservices.cuna.org.
About TraceSecurity
TraceSecurity is a leading provider of on-demand security compliance software
enterprise solution, TraceSecurity Compliance Manager, helps customers satisfy
compliance requirements mandated by such regulations as GLBA, Sarbanes-Oxley,
technology automates vulnerability testing, policy management, employee education
global enterprises in the financial services, insurance, healthcare, government,
TraceSecurity to continually test and improve the computer security of their companies.
TraceSecurity’s products and services include: Security Assessments, Two Factor Penetration Testing, Application Testing, Social Engineering, Security Awareness Vulnerability and Compliance Assessment software. Headquartered in Baton Houston, Austin, and Dallas; Portland, Ore.; Columbus, Ohio; Salt Lake City and phone at (877)-275-3009 or on the Web at www.tracesecurity.com.
FOR IMMEDIATE RELEASE:
David Splivalo
Freestyle Public Relations
515-223-4343
david@freestylepr.com
