This month we have been focusing on multi-factor authentication and its benefits for your organization. Today we go a little deeper into how MFA is effecting US financial services institutions. We’ve brought back Andy to give us a little more insight into this category. While attending the 2015 Opus Research Voice Biometrics Conference in New York City, Andy got a glimpse of how mobile MFA is changing the industry. Here is a sample of what Andy saw: USAA USAA is a Texas-based Fortune 500 diversified financial services group of companies that serve the needs of current US military service members, veterans and their families. Throughout its 92-year history, USAA has distinguished itself by using the latest technologies to provide best in class customer experiences. Beginning in 2013, USAA embarked upon it’s own MFA development path by integrating voice and facial recognition biometrics into it’s mobile application authentication. The objectives to be pursued in this move to personalized security were as follows:
- Balance security and convenience
- Know the member
- Provide choices for authentication, and
- Provide multifactor authentication
With the May 2015 release, the USAA mobile application was available for iOS and Android devices and supported fingerprint, voice biometrics, facial recognition and knowledge authentication methods. It’s notable that when surveyed, four out of five USAA members were interested in using biometrics instead of PINs. Rolled out to the entire US member population, the adoption has been tremendously successful with initial enrollment surpassing 185,000 members. Looking for more information on how mobile multi-factor authentication can impact your organization? Read more on financial services or download our on-demand webinar for more information. Mobile Multi-Factor Authentication for Financial Services SecureReset Demo: How Multi-Factor Authentication can help keep your organization safe
