Federal Bank has tied up with Infosys Technologies arm Finacle to strengthen the bank’s existing authentication system for its corporate and retail Internet banking customers.
The private sector bank has integrated and implemented Finacle enabled Two Factor Authentication (2FA) solution that ensures mutual strong authentication between the bank and the end-user that will enable an easy and transparent user login.
This solution supports both retail and corporate Internet banking channels across multiple form factors like hardware token, software credential and one time password.
The solution also supports public key infrastructure, and dynamic passcodes which protects customers against existing and emerging security threats such as phishing, replay attacks, man-in-the-middle among others.
KP Sunny, CIO, Federal Bank said: “Post the deployment of two-factor authentication module, we have built the capability to provide extra security to our customer’s online transactions and enhance our end-user’s experience.”