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2-Factor Authentication

Many banks in Asia and large financial institutions in the US, like Charles Schwab, Fidelity Investments, E*Trade and others are now offering 2-factor authentication for their online services. These features require a user to use a USB token or receive an SMS message on their cellphone, in addition to entering their password. This requires users to both know something (password) and have something (registered cellphone or usb token), in order to gain access to their account. The benefit is that if your password is compromised, a physical item is still required for a theif to gain access to online banking. Implementing 2-factor authentication at BECU would greatly enhance member online security.
35 Comments
Trailblazer
I totally agree with all the identity theft going two factor authentication will be required soon. Why not lead in security rather than waiting to be forced into it by a problem? Two factor ATM using a mobile app would be big for BECU. Feature security and it will pay big returns with new clients.
Adventurer
Definitely. Two-factor authentication is a no-brainer, and an easy way for individuals with poor password security to add an additional layer of protection to their accounts. Codes delivered via an app like Google Authenticator or Microsoft Authenticator or via SMS are both great options.
Sightseer

I completely agree that two-factor authentication would be a welcome security feature. In addition to SMS or RSA physical keys, there are multiple smartphone applications available--such as Google Authenticator or RSA SecurID, which work with many popular websites and financial institutions and are easy for users to deploy.

Former Employee
Status changed to: Needs Community Support
 
Former Employee
Status changed to: Needs Community Support
 
Sightseer

Please do this, I only joined this forum just to upvote this idea


Community Manager
Status changed to: In Development

Hi @Gpickford

 

Thank you for sharing! I can tell you are passionate about this topic and many in the community have shown their support - thank you for jump-starting the conversation! Our members security is very important to BECU, and I’m happy to let you know Two-Factor Authentication is currently under development with our IT Security team. The feedback and ideas from the MIX community will be shared with the business unit, so please stay tuned as you may see this topic up for further exploration in one of our Featured Pursuits.

 

John

Community Manager
Status changed to: Good news! We have this!
 
BECU Employee

Hey MIXers! Just a quick note on where you can find the new security set up options in case you haven't yet received the notification when logging into your Online Banking:

Log into Online Banking using your credentials>select Edit Profile> select Manage Security Options. From there you can choose additional/different security questions and add SMS capability. 

 

Cheers, Kristin

Trailblazer

 Absolutely, would love to see Google Authenticator used here.