So, you've met with your key vendors and conducted a gap analysis of areas that need to be addressed prior to January 2012 to conform to the FFIEC Authentication Guidance. But how do you know if a specific vendor is sharing with you a complete picture of preparedness? Some vendors are upfront on their capabilities and...
Banking regulators make no bones about it: Your third-party service providers aren't responsible for ensuring that you attain conformance with the FFIEC Authentication Guidance. You are. How do you ensure their ability to aid your efforts towards compliance? Learn the secrets of a vendor management expert, who will...
The FFIEC Authentication Guidance update is out, and third-party service providers need to begin reviewing their internal systems and communicating with their financial institution customers, says Wells Fargo Bank's Phil Alexander.
On June 28, the FFIEC released its final, formal version of its Authentication Guidance. Not even one month later, we've created three new training programs to help banking institutions understand and conform with the guidance.
It's not enough for banking institutions to conform to the FFIEC Authentication Guidance update. They also must ensure that their key vendors meet the same standards, says Philip Alexander of Wells Fargo Bank.
Jeff Kopchik of the FDIC says too much emphasis on what's "missing" from the FFIEC's new guidance detracts from regulators' intent: providing financial institutions with a guideline for securing online transactions.
As emerging technologies such as cloud computing and mobile banking become the norm, the FDIC's Donald Saxinger says vendor management programs must specifically address the outside risks posed by working with non-traditional financial services providers.
After one commercial customer fell victim to corporate account takeover, this institution suffered significant losses and learned that legal disputes rarely favor the bank.
Organizations are being driven to increase the strength of authentication across a much broader user population than ever before. The most common way of authenticating employees and partners - username and password - is also one of the weakest in use today. Traditionally, providing stronger authentication using...
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