SOURCE: PhoneFactor

PhoneFactor

September 09, 2009 10:41 ET

PhoneFactor Scores Spot on Bank Technology News' FutureNow List

PhoneFactor Was Honored as the Sole Authentication Provider on Bank Technology News' List of 10 Must-Have Security Technologies

OVERLAND PARK, KS--(Marketwire - September 9, 2009) - PhoneFactor, a leading global provider of two-factor security services, was recently honored with a listing on Bank Technology News' FutureNow list. The FutureNow list marks the top 10 technology innovators securing the banking industry today. PhoneFactor was the sole authentication provider to make the cut. Stating that "Out (of Band) Is In" due to the proliferation of today's sophisticated security threats like man-in-the-middle attacks, PhoneFactor makes this ultra-secure method of two-factor authentication both easy and convenient.

By combining out-of-band authentication with real-time fraud alerts, PhoneFactor offers the strongest level of security for online banking. The PhoneFactor platform utilizes the telephone network for the second factor of authentication, which ensures protection against keystroke loggers and man-in-the-middle attacks. PhoneFactor can be used to verify specific high-risk transactions, such as wire transfers, so even if the user's authenticated session has been hijacked, their account is still protected. Not only does PhoneFactor prevent unauthorized logins and transactions, it notifies you instantly if a user's credentials have been compromised and an attack is in progress.

This level of security is often limited to expensive, cumbersome systems. Not so with PhoneFactor. Users simply login with their username and password. Instantly, they receive an automated call. They answer and press # to verify their identity. It works with the user's existing phone (landline or mobile). There are no additional security devices for a bank's IT department to manage and nothing extra for online banking users to carry.

"This list is all about the security innovations with a power to make a difference. Being included is an honor that truly validates PhoneFactor's mission," said Tim Sutton, PhoneFactor CEO. "As the security landscape continues to evolve, so must technology. We are proud to be recognized for our contribution to IT security in the banking industry."

About PhoneFactor

PhoneFactor is an award-winning two-factor authentication service that uses any phone as a second form of authentication. Unlike security tokens and other traditional two-factor solutions, PhoneFactor is easy and cost effective to setup and deploy to large numbers of geographically diverse users. Learn more at www.phonefactor.com.

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