Thursday, October 20, 2005

Two part authentication in banking

Two part authentication is something we have considered for web access for our borrowers, and Mortgage Manager customers - accessing their loan details and loan administration capabilities.

I read now where the banking industry in the US is to implement this by 2006. (http://it.slashdot.org/article.pl?sid=05/10/19/2340245&from=rss)

We've considered even sending the unique, one off number to the users mobile phone, so each time you login, you know your password, and you have your mobile phone. I'm still trying to figure out whether this is too restrictive - everyone has a mobile now right? (and knows how to use SMS right?) Reduces our cost!! Hey we're a financial institution - it's all about us! ;-)