March 08, 2012

Phone-based authentication provider Authentify has just come out with 2CHK, an application that provides out-of-band (OOB) authentication to mobile and online banking customers. Financial institutions, e-commerce providers and enterprises can offer the app to their customers and employees to protect them from man-in-the-middle and man-in-the-browser attacks.

The 2CHK app is separate from a bank's mobile and online banking apps. To use it, customers just need to activate the app on their smartphone or computer and link it to their account using voice- or SMS-based OOB authentication. The app then maintains a second, secure channel that a bank can use to show customers transactions for instant approval or rejection. This differs from traditional OOB implementations that send a one-time password via a phone call or text message that the customer then enters in their online or mobile bank app.

"Our customers include some of the world’s largest banks, e-commerce providers and enterprises, and we have been engaged with them throughout our development of 2CHK," said Peter Tapling, president and CEO of Authentify, in a release announcing the product. "Their feedback indicates we have created a unique solution that sets a new standard for convenient and cost-effective transaction security."