Balancing Risk, Usability, and Cost

Today, corporate eBanking encompasses many online user activities, ranging from account viewing to wealth management. Each activity has its own unique threats, user demands, and levels of risk. Financial institutions must not only protect users from these threats and ensure a positive user experience, but also fit solutions within the budget resources of the company. Balancing risk, usability, and cost is essential for an effective identity and transaction protection ecosystem.

Minimize Risk

SafeNet solutions can authoritatively verify the identity of users and validate the integrity of transactions. SafeNet is also the only company that can provide end-to-end financial service protection by securing the authentication and cryptographic key infrastructure. This allows the financial services organization to quickly adapt to changing business needs and tailor levels of security to the levels of risk involved with each type of service and each type of financial customer.

Maximize usability

The right approach is to tailor security mechanisms to the level of risk. In corporate eBanking, different types of transactions, the value associated with those transactions, and the users all have different risk profiles. On the low-risk side are activities like account viewing and loan applications; a complex security mechanism would scare users off. At the high-risk end would be such transactions as online trading, fund transfers, and wealth management, where stronger authentication and security mechanisms aren’t just tolerated, they’re expected.

Because SafeNet offers so many types of authentication methods, different end users can use exactly what they need for both ease of use and security for their use cases. SafeNet solutions can also scale to support millions of end users, ensuring system uptime. This means financial service organizations can ensure optimal service levels at all times—while accommodating increasingly sophisticated services and security measures.

Optimize cost

Some eBanking systems make it difficult to expand services. If your business expands into a service that requires transaction validation, some systems force user authentication to be on one management system and transaction validation on a different one. This can mean that changes made in one system don’t automatically change in the other, meaning more time, more effort, and more resources to manage. This can cause operating costs to skyrocket! But SafeNet solutions offer streamlined and centralized management. This lowers the cost of ownership because all eBanking use cases, authentication form factors, and risk levels can be managed from a single authentication platform.