SOURCE: PhoneFactor


June 23, 2010 08:00 ET

PhoneFactor Launches Universal Banking Gateway

New Gateway Empowers Banks to Quickly Add Out-of-Band Authentication to Any Online Banking Platform

OVERLAND PARK, KS--(Marketwire - June 23, 2010) -  PhoneFactor, Inc., a leading global provider of multi-factor authentication services, today announced that it has extended its suite of out-of-band authentication solutions for online banking to include a Universal Banking Gateway, enabling rapid implementation with any online banking platform and no coding. The Gateway adds a critical authentication layer to secure online banking logins and transactions without requiring direct integration with the online banking application.

PhoneFactor works by confirming online banking logins, ACH, wire transfers and bill pay processes through an out-of-band phone call or text message. The user simply answers the call or responds to the text message to authenticate. Because the authentication is confirmed through the telephone network, it protects against escalating threats from man-in-the-middle attacks and online banking trojans.

The new Gateway makes it possible to add PhoneFactor authentication to online banking applications that are deployed as managed services and other cases where the application's authentication logic is not accessible to the bank. The Universal Banking Gateway is available immediately as one of the integration options bundled into the PhoneFactor platform. PhoneFactor also supports direct integration via web plug-ins for Java and .Net and a Web Services SDK, and has partnered with leading banking platform providers, such as Fiserv, to provide native integration.

"With attacks from online banking trojans growing exponentially, banks are feeling the pressure to quickly deploy the out-of-band authentication needed to protect their customers," said Steve Dispensa. "Now, it's easier than ever for banks to deploy PhoneFactor, regardless of their online banking systems. Banks can take control of the implementation timeline and quickly roll the service out to their users."

With PhoneFactor there are no security tokens, software or certificates to deploy to end users, so the enrollment process is simple and fully automated. No user training is required, and very little ongoing user support is required. Customer acceptance of PhoneFactor continues to grow in every industry, but the security and usability of the solution make it ideal for online banking. Today, PhoneFactor authenticates millions of online banking logins and transactions for leading financial institutions.

About PhoneFactor
PhoneFactor is a leading provider of multi-factor authentication services. The company's award-winning platform by the same name uses any phone as a second form of authentication. PhoneFactor's out-of-band architecture and real-time fraud alerts provide strong security for enterprise and consumer applications. It is easy and cost effective to set up and deploy to large numbers of geographically diverse users. PhoneFactor was recently named to the Bank Technology News FutureNow list of the top 10 technology innovators securing the banking industry today and a finalist in 2010 SC Magazine Reader Trust Awards. Learn more at

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