Citibank Implements Fraud Scoring for Online Banking
09 Feb 2006
Citibank's been quiet about its two-factor authentication compliance plans, but news broke recently that the giant will deploy Business Signatures' Real Time e-Fraud Prevention Solution behind its online banking applications. The application isn't two-factor authentication at the front door, but rather analyzes the user's navigation and behavior during an online banking session, producing a dynamic risk score during each session. If the risk score exceeds allowable levels at any time, the application can ask for a second-factor authentication, such as a challenge question or out-of-band phone call, or can deny the transaction.
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