text messaging in online banking
Post on 07-Jul-2015
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Text Messaging in Online Banking
Scott Sharp
Overview
• Authentication
• Simple Services
– Password Reset
– Balance
– Support
• Notifications
• Bi-directional Communications
Step 1 - Authentication
• Register Mobile Phone
• Basic Authentication
• Out-of-Band Validation
• Done
No More Expensive
Tokens!
Authentication Benefits
• Complex Algorithm to protect random passcode generation
• Protects Against Man-In-Middle
• Simplifies user login by removing security questions
• Increased login security available to wider number of users
Future Services
• Password Resets (in development)
– Out-of-Band Authentication
• Simple Services
– Password Reset
– Balance
– Support
• System Notifications
Options
• Contracts: Additional Services
– Basic Authentication (free)
– CSC or Other Services Optional
– Future Additions included w\maintenance
• Dedicated Line (Send/Receive) in Bank Area Code
• CSC – Common Short Code
– Dedicated 5 or 6 digit #
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