Thursday, April 30, 2009

Online Banking and Mutual Authentication

This little piece from Finextra, a British online banking newsletter, presents three scenarios for authentication: the classic user ID and password, one-way authentication and two-way mutual authentication.

It basically chops down the first two and, by following the evolution of hacking technology for cracking authentication, leads to the third alternative, which is two-way mutual authentication.

The article sees this as a two-way street, if you will, that can block fraud and increase business by promoting legitimate transactions.

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