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Announcements [View All]
CUISPA announces BetterMFA AUSTIN, TX 7/21/08: CUISPA brings another valuable collaborative contribution to credit unions this time in the form of a better multifactor authentication solution. Appropriately called BetterMFA, the solution addresses many of the issues with current MFA solutions, discovered in a recent CUISPA survey. Most notably, flexibility and cost. BetterMFA is free for all CUISPA members and credit unions under $250m in assets. Made possible through a collaborative effort between CUISPA and online banking vendor Jwaala, BetterMFA provides a complete multifactor authentication solution with some very innovative twists. BetterMFA adds a unique option lets users choose what style of authentication fits their lifestyle best and they can change that method at anytime right within online banking as long as it meets the institution’s criteria. Whether challenge questions, password by email, password by SMS, soft tokens, hardware tokens, one time password by secure instant message, etcetera, users now have options. They can view login histories and can even turn on alerts to be notified when logins or failed logins occur; letting them know when, and if, someone is trying to access their accounts as it occurs. These alerts can also be distributed by RSS, email, SMS, even embeddable widgets. Another unique feature of BetterMFA is its support program. BetterMFA is backed by a cooperative community. The BetterMFA source code is available to users to allow them to thoroughly review it and enhance it if desired. Support is available free of charge through the community. If your credit union prefers a formal support agreement or services, they are available through CUISPA and Jwaala for approximately $1000 annually, still remaining well below the cost of alternative MFA solutions. BetterMFA comes with the BetterMFA server, access to the BetterMFA source code, access to documentation, the BetterMFA discussion groups and the opportunity to share and use any BetterMFA tweaks, workflows, and improvements. “Often providing something for free leaves the impression that it has limited value,” explains Kelly Dowell, CUISPA Executive Director. “But in this case, we’re fortunate to have developed a relationship with a CU focused vendor (Jwaala) that shares a belief that security is critical. They have a very powerful authentication solution but it was only one small component of their core product. With no intent in marketing the product independently they were willing to contribute it for the BetterMFA project. Through a good working relationship, BetterMFA is now available to all credit unions, providing a more user considerate solution to MFA and eliminating some of the expense of securing online banking.” To learn more logon to BetterMFA |
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