PhoneFactor,
a provider of multi-factor authentication, has launched its authentication
app for iPhones and iPads. Apps for the android devices will be available soon.
The
PhoneFactor App
offers a number of benefits, particularly when compared to one-time passcode
apps, including real-time fraud alerts and transaction verification in
accordance with the 2012 FFIEC Authentication Guidance.
While
most mobile authentication apps output a one-time-passcode, the PhoneFactor app
takes a unique approach. PhoneFactor pushes a notification to the user’s
smartphone or tablet. Instantly, an alert pops up on the user’s device. The
user simply taps “Authenticate” (or enters a PIN and taps
“Authenticate”) in the PhoneFactor App to verify account logins and
transactions.
Unlike
software implementations of traditional one-time password tokens, the
PhoneFactor mobile app provides an out-of-band solution to authenticate
end-users or verify the legitimacy of online transactions — which means
effective protection against man-in-the-middle attacks, while leveraging the
portability and usability of the mobile phones most end-users already carry and
use. Organizations that are looking at phone-based authentication should put
out-of-band solutions such as PhoneFactor on their respective short lists,”
said Derek Brink, vice president and research fellow for IT Security and IT GRC
at the Aberdeen Group, a Harte-Hanks Company.
The
app leverages the innovative out-of-band architecture that is a hallmark of the
PhoneFactor platform to provide a different kind of authentication app.
The
PhoneFactor App works anywhere the user’s mobile device is connected to a
cellular or Wi-Fi network.
By Telecomlead.com Team
editor@telecomlead.com
