Thursday, September 30, 2010

Financial Data Warehouse Sealed with 2 Factor Authentication from TeleSign

The financial industry can benefit from TeleSign and 2 Factor Authentication to increase your website's security through automatic and secure web authentication.

Amplify’d from www.telesign.com




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Our existing customer base began to experience what initially seemed like random transactions on their established accounts. Because we weren’t prepared with something like 2 Factor Authentication we couldn’t tie the transactions to legitimate trade requests by the customers on our main website. While the amounts were relatively small and being moved between existing and verified accounts it raised some red flags. After careful review we found a back door between the unprotected database linked to our marketing website and the main database associated with customer trades. Our IT folks promptly sealed off this vulnerability but the security questions remained with respect to the integrity of our main site. We contacted TeleSign due to their stellar record implementing secure web authentication and keeping other financial websites safe.








They quickly analyzed our main trading site’s weaknesses and recommended a unique method of 2 Factor Authentication to ensure that no further data breach could occur. Their solution was extremely cost effective and was quickly deployed the very same day. Our audit and compliance team was comforted by the fact that TeleSign had successfully processed over a billion transactions and had been protecting the interests for Fortune 500 companies for many years. Many of our regular customers hadn’t noticed any suspicious activity on their accounts but we sent out a communication along with an apology and instructions on how to log in under the new system. Now when a customer’s access our trading site using a web authentication model TeleSign sends them a special PIN code that they enter to ensure they are the the individual initiating the trade. With TeleSign’s added layer of security and the success of our marketing campaign we are poised to be the premier provider of financial services in our community. TeleSign is a perfect partner and their 2 Factor Authentication solution adds value and unparallelled security in an industry where an investors financial future is at stake!













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