Fiserv Chooses PassMark for Two-Factor Authentication
BROOKFIELD, Wis. - In a major win for PassMark, Fiserv said today that it has selected PassMark to provide multifactor authentication for its financial institution clients. Fiserv has the largest footprint in the credit union data processing space via its seven credit union subsidiaries - XP Systems, USERS, Summit, IntegraSys, Galaxy, CUSA Technologies and AFTECH. According to PassMark, its multifactor technology supports more than 15 million end users. "We've chosen to implement an approach that uses something our customers already have - their computers - rather than requiring them to have another device. The advantages we see are greater accessibility and convenience for online banking customers, as well as greater ease of deployment compared to hardware-based solutions," said Norm Balthasar, chief operating officer for Fiserv. PassMark's solutions use a variety of risk-based analytics, such as IP address identification and deeper end user questions to authenticate users. Fiserv core processors will offer two options for implementing PassMark's multifactor authentication technology - a baseline, cost-effective option that will put CUs in compliance and an advanced solution for those who want to take a more aggressive approach.