New ID Product Uses Deeper Questions
A mother's maiden name may soon be obsolete as a way for online merchants to verify identities. VerifyID by StrikeForce Technologies is an identity verification product that requires consumers applying for accounts online to have a deeper level of information to ensure they are who they claim to be.
The product accesses public information to display a series of "out of wallet" questions that go far beyond what hackers normally steal to open a fraudulent account. The randomly selected questions, for example, might ask a potential account opener the name of the financial institution that first held that customer's mortgage, the make and model of his or her first car or a street address from ten years ago.
With less than a minute to answer each question, even users who've managed to hijack part of someone's identity are not likely to be able to answer the full round of questions.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 9, 9/05
Privacy Policy Disclaimer Recommend This Site ! Contact Us
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
|
Print Friendly!
Email This Article!
Discuss NOW!