All Credit Unions are encouraged to logon to this free 30 demonstration of CUISPA’s BettterMFA solution.
July 30th, 1:00pm CST
AUSTIN, TX 9/12/07: CUISPA has done it again creating another valuable contribution for credit unions, in the form of a better multifactor authentication solution. Called BetterMFA, the solution addresses many of the issues found in current commercial solutions. Most notably, the cost. BetterMFA is free for all CUISPA members and credit unions under $250m in assets. Made possible through a collaboration between CUISPA and online banking vendor Jwaala, BetterMFA provides a complete multifactor authentication solution with some added twist.
BetterMFA adds a unique option that credit union members will certainly appreciate. Unlike current authentication solutions that are limited to just one authentication method, BetterMFA provides members with some much desired flexibility. Challenge questions, password by email, password by SMS, soft tokens, hardware tokens, or one time password by secure instant message. Users can now choose what fits their lifestyle best and they can change the method of authentication at anytime right within online banking.
Another unique feature of BetterMFA is its support program. A user community forum is available free of charge, for support, tweaks, and recommendations. Additionally, full support and services are available through CUISPA for approximately $1000 annually, still remaining far below alternative MFA solutions.
BetterMFA is comes with the BetterMFA server, access to the BetterMFA source code, access to documentation, the BetterMFA discussion groups and the opportunity to share and use any BetterMFA tweaks, workflows, and improvements provided by the user community. With source code availability credit unions can make tweaks, revisions and enhancements, as necessary.
“Often providing something for free leaves the impression that it has no value,” explains Kelly Dowell, CUISPA Executive Director. “ But in this case, were fortunate to have developed a relationship with a vendor that had a very powerful authentication solution, but did not intend to sell it as a stand alone solution. It is a component of their core product, MoneyTracker. They realize the importance of strong authentication and wanted to simply contribute this component back to the industry they support. Through a good working relationship with Jwaala, BetterMFA is now available to all credit unions to help improve authentication, provide a more user considerate solution and eliminate some of the expense of securing online banking. ”
