Authentication and Protection for E-Finance Consumers: The Dichotomy of Cost Versus Ease of Use

Document Type

Article

Publication Date

3-2009

Department

School of Business

Abstract

Multifactor authentication is a tool to combat identity theft and is mandated by the Federal Financial Institutions Examination Council. However, there are only a few US financial institutions that have implemented two-factor authentication. A goal for financial institutions is to provide both a secure and easy-to-use system for customers. This article describes web authentication technologies that are currently available to financial institutions and provides an interpretation of survey results to identify the perceptions/expectations of online customers. In our online banking customer survey, we found that online banking customers are willing to sacrifice some ease-of-use for more secure online banking transactions.

DOI

10.1504/IJEF.2009.024268

First Page

31

Last Page

45

Volume

3

Issue

1

ISSN

17460077, 17460069

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