The banking and finance industry faces a number of key challenges: shifting customers online to reduce costs, growing their customer base, and offering more dynamic and exciting content and applications. Institutions also need to stay ahead of electronic fraud by ensuring that customers are provided with a risk-adjusted, secure environment with non-repudiated transactions. At the same time, institutions are facing increasing regulatory requirements from agencies such as the Federal Financial Institutions Examination Council (FFIEC) and the resulting routine audits and examinations. The Anakam Identity Suite® addresses these challenges by providing a customer-friendly, low-cost, strong authentication platform integrated with a host of other applications that support security, identity management, and non-repudiation requirements.

Risk Adjusted Mechanism
The Anakam.TFA® Two Factor Authentication platform implements risk-based, multi-factor authentication – including true two-factor – to make sure that the people with whom you are doing business are the people with whom you intend to be doing business. Anakam.TFA® eliminates the hassle of highly random password solutions that drive up help desk costs or multiple out-of-wallet questions, all of which do not provide the security of true two-factor authentication. Anakam.TFA® not only provides a low-cost, risk adjusted means for interacting with your customers, but it also immediately offers a cost savings over traditional token and card-based solutions used within an enterprise.

Remote Identity Proofing
In addition, you can deploy Anakam.IDP® Identity Proofing to provide low-cost, remote identity proofing of customers to meet the “know your customer” (or KYC) requirements without the need for a face-to-face transaction unless you want it. That capability can be enhanced by integrating Anakam.IDV® Identity Verification to measure the risk of the registration process or further measure the ongoing transactional risk.

Financial institutions that interact with business partners for loan processing, clearance, or other outsourced services will benefit from the implementation of Anakam.VPC™ VPN Connector to offer secure VPN connectivity to their business partners. Large customers with sensitive, high-volume interactions will particularly benefit from the integrated strong authentication process for secure tunneling and the reduced costs for deploying these services to broad, diverse audiences.