Many banks still treat each of their channels separately
for the purposes of security and need to take a more holistic view
when weighing up options for customer authentication and
security.
Gartner analyst Alistair Newton told delegates at the analyst
group’s financial services conference that if banks continued to
deploy channel-specific authentication it would confuse customers
and disrupt the customer relationship.
Newton said banks looking at security needed to:
- choose security that was appropriate to the risk of any
transaction
be consistent across channels- consider the options for reuse of any investment
- the likely requirements of any potential additional channels,
like mobile banking or payments.
“And banks need to stop thinking about authenticating just the
customer – and start thinking about authenticating all parties,” he
added.
“Customers need to be about to trust bank sites, which makes
two-way authentication a logical step to take.”