After SMS One-Time Passwords: Meeting the Authentication Needs of Banks and Their Customers
- Date:March 19, 2018
- Author(s):
- Test
- Kyle Marchini
- Report Details: 21 pages, 6 graphics
- Research Topic(s):
- Fraud Management
- Fraud & Security
- PAID CONTENT
Overview
SMS one-time passwords (OTPs) have permeated nearly all authentication experiences in financial services, but because of an increasing number of vulnerabilities, their ability to provide robust security against fraud is failing. Fraud has become prevalent. It is time for financial institutions and others who require identity verification to plan for the next generation of authentication. To be effective, an authentication solution must be secure, user-friendly, instantaneous, and cost-effective, taking the context into account in analyzing the cost and inconvenience of the process and the benefit of its use.
This research report was independently produced by Javelin Strategy & Research. Javelin Strategy & Research maintains complete independence in its data collection, findings, and analysis.
Methodology
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