Real-time transaction verification — right on a user’s mobile device via a native smartphone app — is one of the most advanced, intuitive methods of stopping malware, man-in-the-browser attacks and other online fraud. This capability is one of the cornerstones of complying with the FFIEC’s updated 2011 guidance for financial institutions in the U.S.
A core component of Entrust IdentityGuard and Entrust IdentityGuard Mobile, users are provided immediate out-of-band notification of transaction details during their online session to easily confirm the legitimacy of transactions. The application also includes the ability to store and refer to transaction history.
Financial institutions can use these tools, as well as an accompanying software development kit, to enhance security for online or mobile banking.