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PhoneFactor partners Fundtech to fight online banking fraud

BBR Staff Writer Published 14 October 2010

PhoneFactor, a provider of multi-factor authentication services, has partnered with Fundtech to offer additional security for online banking logins and transactions.

As a result of this partnership, PhoneFactor will now be available as an integrated option within CASHplus, cash management solution of Fundtech.

Integration with other Fundtech products is also available through the PhoneFactor Universal Banking Gateway, said PhoneFactor.

PhoneFactor will offer Fundtech clients with an integrated out-of-band authentication services, including user authentication and transaction verification services. PhoneFactor works by placing an automated call to the online banking user during login.

Fundtech senior vice president of North American cash management Ed Gainer said, by partnering with PhoneFactor, Fundtech has made it easier than ever for its clients to enable out-of-band authentication to enhance the protection of their online banking customers.

PhoneFactor CEO Tim Sutton said, by working together, PhoneFactor and Fundtech can help financial institutions quickly deploy out-of-band authentication to protect against even the most sophisticated online banking threats.