And here I was, thinking that Americans and Canadians spoke the same language. How wrong I was. OK, here’s the impetus for my question. I got an email from a friend who works for T Rowe Price. He writes: “I was doing research this morning on a company that sells online banking tokens (Vasco—mostly in Europe). Have you ever done any research on online banking authentication tokens?” I tell him, no, I have no clue about that stuff, but that I would pose that the question to this community, and see if there was someone knowledgeable in this area, and that would be willing to spend 30 minutes on the phone with him. So… to your question, I don’t really know. Sorry if that doesn’t help. But thanks for asking.
@Ron – Yes we have some experience with tokens or keyfobs as some ppl like to call them. Since we do technology audits in our consultancy the e-banking section of our workprogram discusses the issuance and encryption processes that are around them. We have a few of our banks now that have implemented them, generally to commercial based clients but some are considering full rollout of all of their client base (not a cheap investment). RSA is a pretty common vendor that we see with our clients.
I’d be happy to help where I can but I wouldn’t consider myself an expert.
I’ve seen a couple of institutions rollout tokens to customers (I think they were using Vasco) and they were also offering tokens to employees that had their accounts with the bank. One of the problems they ran into were that the tokens were a little more than they wanted to pay for, and their employees (that had accounts with the bank) were losing their tokens fairly frequently. This got me thinkin’ that if bank employees, with security training and the such, can’t hold onto their tokens is the average consumer going to be able to keep up with their tokens?
Ron – My organization does use Vasco tokens for both customer authentication to our online banking and for employee authentication to the network. The employee piece is fairly new, probably the last 3 months. Like Heath and Brad both said, it is a costly venture so we have not marketed this option to all customers, just high risk customers. We haven’t had problems with employees losing them but I think that is because everyone was warned that if they lost their token they had to come to me to get a new one… I wouldn’t consider myself an expert but I can get one of the guys to talk to your friend if he still needs info.
Gene B.
online banking authentication tokens – are you talking about the triple des key exchanges to setup devices (maccing, ATMs) or ?
Ron S.
And here I was, thinking that Americans and Canadians spoke the same language. How wrong I was. OK, here’s the impetus for my question. I got an email from a friend who works for T Rowe Price. He writes: “I was doing research this morning on a company that sells online banking tokens (Vasco—mostly in Europe). Have you ever done any research on online banking authentication tokens?” I tell him, no, I have no clue about that stuff, but that I would pose that the question to this community, and see if there was someone knowledgeable in this area, and that would be willing to spend 30 minutes on the phone with him. So… to your question, I don’t really know. Sorry if that doesn’t help. But thanks for asking.
Brad G.
@Ron – Yes we have some experience with tokens or keyfobs as some ppl like to call them. Since we do technology audits in our consultancy the e-banking section of our workprogram discusses the issuance and encryption processes that are around them. We have a few of our banks now that have implemented them, generally to commercial based clients but some are considering full rollout of all of their client base (not a cheap investment). RSA is a pretty common vendor that we see with our clients.
I’d be happy to help where I can but I wouldn’t consider myself an expert.
Heath S.
I’ve seen a couple of institutions rollout tokens to customers (I think they were using Vasco) and they were also offering tokens to employees that had their accounts with the bank. One of the problems they ran into were that the tokens were a little more than they wanted to pay for, and their employees (that had accounts with the bank) were losing their tokens fairly frequently. This got me thinkin’ that if bank employees, with security training and the such, can’t hold onto their tokens is the average consumer going to be able to keep up with their tokens?
Michelle S.
Ron – My organization does use Vasco tokens for both customer authentication to our online banking and for employee authentication to the network. The employee piece is fairly new, probably the last 3 months. Like Heath and Brad both said, it is a costly venture so we have not marketed this option to all customers, just high risk customers. We haven’t had problems with employees losing them but I think that is because everyone was warned that if they lost their token they had to come to me to get a new one… I wouldn’t consider myself an expert but I can get one of the guys to talk to your friend if he still needs info.