High street bank HSBC is preparing to roll out
two-factor authentication technology to cut internet banking
fraud.
The bank said last week, "We are actively working on a
two-factor authentication solution for our mass market business
internet banking customers, which is to be introduced later this
year."
Barclays and Co-op Bank are still assessing the technology,
which offers online customers another line of defence against
threats such as phishing. They said they have no immediate plans to
adopt it.
Last year Barclaycard piloted two-factor authentication using a
card reader to verify online transactions. It said customer
feedback from the pilot was positive but it had not changed its
wait-and-see approach.
Lloyds TSB is halfway through a six-month, 30,000-customer
two-factor authentication trial.
