Enable Rapid Compliance With NCUA Requirements with SecureAuth IdP

On November 5, 2005, the NCUA issued a letter stating that a single-factor authentication such as user name and password used as a security control mechanism may not be adequate for high-risk transactions involving access to member information or fund transfers. To assist credit unions’ efforts in implementing an appropriate authentication system, the NCUA and other Federal Financial Institutions Examination Council (FFIEC) member agencies developed the following authentication guidance:

Member Account Authentication

Where the risk assessment indicates that the use of single-factor authentication is inadequate for the types of services period, credit unions should employ multifactor authentication, layered security, or other controls.

Monitoring and Reporting

Credit Unions should have policies and procedures in place that adequately monitor the system access. If an organization detects unauthorized access to applications and members’ accounts, it is to be reported to local law enforcement and the NCUA Regional Director.

Meet or Exceed NCUA Requirements with SecureAuth IdP

SecureAuth IdP dramatically simplifies the process of providing enterprise-secure access to every cloud, VPN, and web resource from the office, or remotely from mobile devices with integrated Authentication, SSO, and IdM Services. SecureAuth IdP enables rapid compliance with NCUA recommendations while solving the problem of distributing “the something you have” through proven, non-intrusive technologies. The key to the SecureAuth solution is the utilization of the user’s browser as the second form of identification. By securely registering the user’s browser, SecureAuth IdP is able to create second form of identification without forcing the user to install software or to carry a token. Registering the browsers is no easy task. SecureAuth IdP removes the burden of registration through secure out-of-band channels including:

• Mobile SMS One-time Password
•  Telephony Audio One-time Password
• Email One-time Password
• Knowledge-based Authentication
• Help Desk Phone Number
• Static PIN.

In addition, SecureAuth IdP supports customer-selected images that must be identified from a pool of images when a user enters the site.

SecureAuth IdP doesn’t require APIs or application modifications. With SecureAuth, your administrator determines the level of authentication required and only one set of authentication credentials is needed to support web, desktop and VPN resources. And your authentication credentials are securely stored on-premise in Microsoft Active Directory or other industry leading directories.

Questions? Chat with a SecureAuth representative or drop us a line.