Community banks can fortify their defenses against hackers and help keep their sensitive data safe by integrating strong multifactor authentication protocols, ICBA’s Joel Williquette writes in a new blog post.
The Problem: Common forms of MFA that employ SMS-based texts, one-time passwords, or mobile push notifications are being increasingly compromised, as in Uber’s widely publicized exposure.
The Solution: With these new developments in mind, Williquette writes in Main Street Matters that community banks can take additional steps to protect their data going forward by:
Including data and cyber security staff in decisions regarding which MFA standards are implemented.
Working with third-party providers to help identify suitable solutions and best practices.
Leveraging resources available through the FIDO Alliance and the FIDO Certified Showcase to implement this gold standard in MFA.
Resources: Community bank-focused cyber resources are available on ICBA's Cyber and Data Security resource center
More: A customizable news release recognizing Cybersecurity Awareness Month—along with other custom marketing and communications resources—is available on ICBA’s “Tell Your Story” Toolkit.