Beyond Passwords: Best Practices for Consumer Authentication

Presented by Ping Identity 60 Minutes

Over the years, the financial services industry has utilized user ID and password as the primary authentication mechanism. But those protections no longer stand up to the threats or the regulatory environment in place today. It's time to try something different.

You need to ensure that not only are your security practices sound, but stay in line with compliance requirements to keep your organization out of the headlines. M&T Bank is leading the charge in examining new methods for driving secure and compliant consumer identity management solutions. This session will talk through the regulatory landscape, including pending legislations, and discuss leading edge approaches to:

Specific authentication challenges financial institutions face;
New IAM technologies and how they stack up to the challenges;
How to balance effectiveness with ease-of-use.

Background

Internet fraud continues to be big business, and financial institutions are at the epicenter of the most prolific attacks. Despite heavy regulations ranging from PCI-DSS to FFIEC Guidelines, we continue to read about companies that suffer theft of customer data resulting in millions of dollars of losses each year.

According to Verizon's 2013 Data Breach Investigations Report, one of the biggest areas of vulnerability continues to be around authentication. Specifically, authentication-based attacks, which are now the predominant way hackers attack networks.

So what do you need to know to combat these threats and ensure you are actively protecting your customers, and your company's assets? M&T Bank continues to lead the industry from both a process, and a solution perspective. Matt Speare will share detailed insights on: