Protecting your company’s information must be considered part of a strategy to reduce risk exposure. To help you protect your bank account information, National Exchange Bank & Trust invested in “Token Authentication” for Business Electronic Banking customers.
RSA SecurID® two-factor authentication is a combination of something you know (a password or PIN) and something you have (an authenticator)—providing a much more reliable level of user authentication than static passwords. SecurID authentication offers a unique solution that automatically changes the user’s password every 30 seconds.
To complete an ACH or wire transaction under the new system, users simply combine:
- their secret password (something they alone know),
- with the token codes generated by the authenticator, a convenient hardware device small enough to attach as a keychain (something they have).
The result is a unique, one-time-use passcode that is used to positively identify, or authenticate, the user. If the code is validated by the RSA SecurID system, the user is granted access to the feature. If it is not recognized, the user is denied access.
RSA SecurID authentication is built upon the Advanced Encryption Standard algorithm, a recognized standard that is continuously scrutinized and challenged by cryptologists around the world.