For New Year Credit Union Members Gain Secure Internet Banking Access Anytime, Thanks to Enhanced Security of MFA.Credit unions meet Dec. 31(st) federal deadline with Multi-Factor Authentication provided by Fiserv BROOKFIELD, Wis. -- In order to meet the Federal Financial Institutions Examination Council's (FFIEC FFIEC Federal Financial Institutions Examination Council ) year-end deadline, credit unions nationwide signed up with business units of Fiserv, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :FISV FISV Fiserv, Inc (stock symbol) ) for the very latest in system security technology, multi-factor authentication (MFA See multifactor authentication. ). The 24/7 account protection and easy setup of MFA has earned praise from credit union members, and given them a way to securely access their accounts anytime with peace of mind. The business units in the Fiserv Credit Union Core Processing Group offering the MFA security solution are AFTECH, CUSA CUSA Conference USA (Collegiate Athletic Conference) CUSA Carleton University Students Association (Canada) CUSA Certified Utility Safety Administrator (US National Safety Council) , GalaxyPlus, IntegraSys, Summit Information Systems, and USERS. "Our business units have incorporated a robust, yet unobtrusive MFA feature into their Internet banking solutions, because they understand the significant challenge of balancing security and convenience when transacting business online," said Joe Barry Joe Barry is the defensive coordinator for the National Football League Detroit Lions. Coaching career Prior to coaching at Detroit, Barry coached the Tampa Bay Buccaneers and San Francisco 49ers and in college football at the University of Southern California, Northern , division president of Fiserv Credit Union Core Processing. "Fiserv is committed to providing convenient online financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , coupled with the security solutions needed to ensure that the integrity of members' accounts and financial information remains intact." Members at credit unions using the MFA feature say they are more confident than ever about banking online thanks to the added personal security protecting them. "We appreciate what Fiserv's Summit is doing to help us keep our members more secure. The response from our members has been great, and they are impressed with how proactive we are with our Internet banking security approach," said Jerry Hammervold, vice president of marketing and technology at Schlumberger Employees Credit Union. "Our membership base is geographically dispersed in more than 70 countries and relies on our Internet Banking service." Schlumberger Employees Credit Union ($202 million, 15,600 members) recently rolled out the new MFA component, and to date more than 60% of its Internet banking members are registered and averaging 2,000 log-ins per day. The MFA capability offered by the Fiserv family of companies is the automated, highly secure and proven Adaptive Authentication solution from RSA (1) (Rural Service Area) See MSA. (2) (Rivest-Shamir-Adleman) A highly secure cryptography method by RSA Security, Inc., Bedford, MA (www.rsa.com), a division of EMC Corporation since 2006. It uses a two-part key. , the Security Division of EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. . The selection and deployment of the RSA solution for MFA was part of a collaborative effort by six core processors in the Fiserv Credit Union Group, designed to assist their credit union clients with reducing risk and complying with FFIEC requirements. Franklin Mint The Franklin Mint is a private corporation based in Exton, Pennsylvania which markets collectibles of its own designs. It was founded by Joseph Segel. The company started by marketing privately-minted gold and silver commemorative rounds and medallions, but quickly branched Federal Credit Union ($378 million; 49,752 members) is using the MFA solution through Fiserv's GalaxyPlus to provide enhanced security for its electronic banking delivery systems. "The initial reaction from our membership has been very positive," John Hargrove, vice president of Franklin Mint Federal Credit Union, explains. "They understand that the changes are being implemented to provide additional security to the electronic banking process. Our members are now equipped with the tools and awareness necessary to identify a potential fraud attempt." About Multi-Factor Authentication The new MFA component incorporated within the Fiserv credit union core processors' Internet banking solutions uses risk-based technology to generate a profile of the member's PC and geo-location as one level of authentication. During the initial registration, the MFA feature also requires the member to choose a secure image and phrase used to confirm identity during transactions, in addition to the user name and password. The same image and phrase is then displayed to the member during log-in, confirming that he or she has accessed the credit union's authentic web site. Also during registration, the member selects three challenge questions with their own unique answers, which are used when the member accesses Internet banking from a computer other than the one used during registration, or when the system detects a questionable log-on attempt. The MFA solution incorporates instructions that make it easy for members to complete the required registration online and can be deployed in-house or managed by the Fiserv companies. Fiserv's Credit Union Core Processing Group includes: * AFTECH headquartered in Malvern, Pennsylvania, located at www.aftech.com * CUSA, Credit Union Systems for America, headquartered in Salt Lake City, Utah For ships of the United States Navy of the same name, see . Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake, or its initials, S.L.C. , located at www.cusa.com * GalaxyPlus headquartered in Troy, Michigan, located at www.galaxyplus.com * IntegraSys headquartered in Frisco, Texas, located at www.integrasys.fiserv.com * Summit Information Systems headquartered in Corvallis, Oregon, located at www.summitsite.com * USERS headquartered in Valley Forge, Pennsylvania This article is about the Village of Valley Forge, in southeastern Pennsylvania. For other uses, see Valley Forge (disambiguation). The Village of Valley Forge is an unincorporated settlement located on the west side of Valley Forge National Historical Park at the , located at www.users.com * XP Systems headquartered in Moorpark, California and located at www.xpsystems.com About Fiserv, Inc. Fiserv, Inc. (NASDAQ:FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ), software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wisconsin, Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com. |
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