Boiling Springs Savings Bank chooses Comodo’s Two Factor Authentication Solution to meet 2006 FFIEC guidelines

Boiling Springs Savings Bank chooses Comodo’s Two Factor Authentication Solution to meet 2006 FFIEC guidelines

Comodo, a global Certification Authority and leading provider of Identity and Trust Assurance Management solutions, announced today that Boiling Springs Savings Bank is deploying Comodo’s PKI-based Two Factor (TF) authentication solution as a critical component of its best practices strategy to comply with FFIEC guidelines. Comodo TF is a component of Comodo’s S.A.F.E solution, which is an integrated suite of technologies that provides a best practices approach to mutual authentication, identity assurance and protection from phishing, pharming, and man-in-the-middle attacks.

Comodo Two Factor (TF) Client Certificates – a High-Performance, Low Cost Solution with No Integration: Financial institutions are under pressure to comply with Federal Financial Institutions Examination Council (FFIEC) guidelines by year-end to evaluate and strengthen their mutual authentication processes for online banking transactions. To comply with the guidelines, financial institutions seek to employ a multifactor solution with ease of integration, ease of adoption by online banking customers and ease of configurability. With Comodo TF, Boiling Springs Savings Bank can support a high-performance two- factor solution while reducing operating costs.

Boiling Springs Deploys A Best Practices Approach To Mutual Authentication – Comodo TF + Comodo Content Verification Certificates (CVC): As a best practices financial institution, Boiling Springs incorporated Comodo TF within their overall mutual authentication business process. To enable this level of mutual authentication, Boling Springs is deploying two synergistic technologies: Comodo TF and Comodo Content Verification Certificates (CVC). While Comodo TF enables Boiling Springs to authenticate the identity of the customer, Boiling Springs also deployed CVC’s so that their customers can verify the identity of the bank. CVC’s uniquely “tie” specific web content, such as the log in box and graphical images, to specific Boiling Springs URL’s and/or IP addresses thus confirming the site’s identity. Together, this provides a PKI based mutual authentication process that thwarts phishing attacks, renders man-in the-middle attacks ineffective and protects customers against identity theft.

“As an Open Solutions Internet Banking application customer, we felt that the Comodo TF solution offered us the best mix of strength of security, convenience for our online banking customers, and lowest Total Cost of Ownership of the options available for mutual authentication,” said Ken Emerson, CTO of Boiling Springs Savings Bank.”The other advantages are ease of deployment with practically no integration and a platform that will support our authentication requirements in the future.”

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