Phishing-Resistant Biometric Authentication for Banks and other Financial Institutions

Phishing-Resistant MFA: Stop Ransomware with the Token Ring 

• Meet strict regulatory compliance
  • Token authenticators help you meet strict regulations including SEC, SOX, PSD2, and GDPR. 
    
    
• Optimize the user experience
  • Deliver the most user-friendly experience for your employees while ensuring the ultimate protection against phishing and ransomware attacks. 
    
    
• Drive down IT costs – No password resets
  • Biometric-based MFA eliminates the need for IT password reset support which Forrester Research estimates to cost a typical mid-sized organization over $140k annually. 
  
  
• Meet cybersecurity liability insurance requirements
  • Phishing-resistant MFA using biometric authentication is what insurers see as a best practice for the strongest identity security. And not using it can result in increases in premiums or dropped coverage. 

Evaluating Biometric-Based MFA Solutions

Financial institutions face two major challenges when evaluating biometric authentication solutions to protect against phishing and ransomware attacks. The first challenge is ensuring user privacy, particularly concerning the storage and sensitive nature of biometric data in the event of a data breach. Token Ring addresses this by storing fingerprint data exclusively on the ring itself withing a Secure Element. Fingerprint matching takes place on the ring and the biometric data never leaves the ring ensuring it cannot be compromised. 

The second challenge is the scalability and integration of biometric solutions with existing systems. Deploying a new authenticator across thousands of employees can be a significant undertaking. However, Token seamlessly integrates with all leading IAM providers in just hours, not weeks or months. We utilize a simple three-step setup process that ensures the quickest and most efficient deployment for each organization.