Nov. 17, 2006 – Jersey City, NJ (November 16, 2006) – Comodo, a global Certification Authority and leading provider of Identity and Trust Assurance Management solutions, announced today that Boiling Springs Savings Bank is deploying Comodo’s PKI-based Two Factor (TF) authentication solution as a critical component of its best practices strategy to comply with FFIEC guidelines. Comodo TF is a component of Comodo’s S.A.F.E solution, which is an integrated suite of technologies that provides a best practices approach to mutual authentication, identity assurance and protection from phishing, pharming, and man-in-the-middle attacks.
Comodo Two Factor (TF) Client Certificates – a High-Performance, Low Cost Solution with No Integration
Financial institutions are under pressure to comply with Federal Financial Institutions Examination Council (FFIEC) guidelines by year-end to evaluate and strengthen their mutual authentication processes for online banking transactions. To comply with the guidelines, financial institutions seek to employ a multifactor solution with ease of integration, ease of adoption by online banking customers and ease of configurability. With Comodo TF, Boiling Springs Savings Bank can support a high-performance two- factor solution while reducing operating costs. This two-factor solution offers significant advantages over other two factor solutions (such as matrix cards, tokens or image recognition solutions):
One of the only PKI based two factor solution – PKI is considered one of the strongest forms of authentication available for online security
Lowest cost solution due to an established PKI infrastructure and digital certificate lifecycle management processes
Virtually the easiest multi-layer solution for members to adopt because there is no change in members’ online banking behavior once a DigitalID has been created. Members conveniently continue to use their existing usernames and passwords.
High level of flexibility and configurability for the financial institution
A platform that will support future authentication requirements
Solution can be deployed in days
Ease of customer support
Boiling Springs Deploys A Best Practices Approach To Mutual Authentication – Comodo TF + Comodo Content Verification Certificates (CVC)As a best practices financial institution, Boiling Springs incorporated Comodo TF within their overall mutual authentication business process. To enable this level of mutual authentication, Boling Springs is deploying two synergistic technologies: Comodo TF and Comodo Content Verification Certificates (CVC). While Comodo TF enables Boiling Springs to authenticate the identity of the customer, Boiling Springs also deployed CVC’s so that their customers can verify the identity of the bank. CVC’s uniquely “tie” specific web content, such as the log in box and graphical images, to specific Boiling Springs URL’s and/or IP addresses thus confirming the site’s identity. Together, this provides a PKI based mutual authentication process that thwarts phishing attacks, renders man-in the-middle attacks ineffective and protects customers against identity theft.”As an Open Solutions Internet Banking application customer, we felt that the Comodo TF solution offered us the best mix of strength of security, convenience for our online banking customers, and lowest Total Cost of Ownership of the options available for mutual authentication,” said Ken Emerson, CTO of Boiling Springs Savings Bank.”The other advantages are ease of deployment with practically no integration and a platform that will support our authentication requirements in the future.”Comodo’s S.A.F.E. Solution was developed specifically to address diverse, complex and urgent needs of financial institutions for a solution that is configurable and practical. “The FFIEC guidelines are meant to address the changing nature of online identity and trust assurance threats,” said Andrew Pynes, Executive Vice President of Comodo. “FFIEC guidelines require financial institutions to implement solutions this year that provide a highly secure, non-intrusive online banking experience. Comodo can help thousands of financial institutions protect their customers and achieve compliance with the guidelines.”
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