SSO - single sign on solution for banks and financial organizations
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Biometric Secure Single Sign-On (SSO) Software for Banks and the Financial Services Industry.

Biometric Secure Single Sign-On (SSO) Software for Banks and the Financial Services Industry.

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SSO - single sign on solution for banks and financial organizations Presentation Transcript

  • 1. Biometric Secure Single Sign-On (SSO) Software for Banks and the Financial Services Industry Eliminate Passwords and Increase Security in your Bank The increasing number of enterprise security data security breaches combined with the pressure on the financial services industry to implement methods of password management, identity management, data and network security, and two factor authentication has never been stronger. The sharing or theft of user passwords still remains the number one reason that corporate data is compromised. We help to solve this problem by allowing the financial services industry the ability to implement a centralized password management repository for single sign-on and secure access to internal applications. What is Single Sign-On? A cost-effective, server-based back-end that offers enterprise-wide identity and password management as well as data protection that is easily deployed and managed by your IT department. With a single solution that supports strong authentication techniques, banks can protect corporate and personal data while ensuring industry mandated compliance with governmental regulations. www.m2sys.com© 2014
  • 2. What Data Breaches Really Cost Money motivates most cyber crooks and the most popular way to access it is through penetration of internal bank and financial service networks looking for information to sell or exploit. Consider these facts about banking and financial service data breaches: – Average data breach cost is $3.5m. Trend: costs going up. – Average detection and escalation costs are between $0.3m – $1.3m per breach. – Average notification costs are between $0.02m – $0.5m per breach. – Average post data breach expenses are between $0.4m – $1.6m per breach. – Average business costs losses are between $0.25m – $3.3m per breach. – Average number of breached records: 18,600 – 20,100 (rounded) – Indirect costs account for between 40% and 67% of post data breach costs We just passed the first half of 2014, and already we have witnessed many high profile data breaches in the U.S.: ITRC Breach ID Bank or Organization State Breach Category Records Exposed? ITRC20140702-02 Stanford Federal Credit Union CA Banking/Credit/Financial Yes - Published ITRC20140609-03 Bluegrass Community Federal Credit Union KY Banking/Credit/Financial Yes - Unknown ITRC20140604-01 American Express NY Banking/Credit/Financial Yes - Published ITRC20140408-01 Cole Taylor (Bank) Mortgage OR Banking/Credit/Financial Yes - Unknown ITRC20140327-03 TD Bank NJ Banking/Credit/Financial Yes - Unknown ITRC20140311-02 Timken Company OH Banking/Credit/Financial Yes - Published ITRC20140225-09 TD Bank / University of New Hampshire NH Banking/Credit/Financial Yes - Unknown ITRC20140210-04 Bank of the West CA Banking/Credit/Financial Yes - Unknown ITRC20140107-08 Branch Banking & Trust Co. NC Banking/Credit/Financial Yes - Unknown Source: ITRC Surveys & Studies (http://www.idtheftcenter.org/images/breach/ITRC_Breach_Report_2014.pdf) www.m2sys.com© 2014
  • 3. True Cost of Data Breaches (a 2013-14 Study) 36% 30% 24% 10% Reported Data Breaches (by Type) Unauthorized Access Accidental Disclosure Theft Loss 5.4 5.09 3.97 3.4 0 2.4 2.52 2.19 1.18 1 5.85 4.74 4.19 3.68 3.12 2.69 2.59 2.36 1.61 1.37 0 2 4 6 8 US DE FR UK AB IT AU JP BZ ID 2014 2013 Cost of Data Breach in 2013-14 by Country (Measured in Billion US$) www.m2sys.com© 2014
  • 4. Why should banks use SSO? Biometric SSO: A Critical Part of Security Strategy Password Management Identity Management Data and Network Security Encryption Authentication Replace insecure passwords with biometric identifier Reduce Help Desk calls Protect corporate data from unauthorized access and insider threats Featured Benefits Malicious or Criminal Attack 36.5% System Glitch 28.5% Human Factor 35% www.m2sys.com© 2014
  • 5. How Biometric SSO Works? Establish a Secure Authentication Framework •Website & Application Support •Enterprise class SSO •Remote Management for IT Password Protection •Windows logon protection •Secure Email delivery •VPN lockdown Network Security •Strong file & folder protection •Uses MS CAPI for encryption •Portable, sharable data protection Encryption •Authenticated user logon •Compatible with most M2SYS fingerprint readers, and finger vein tech Biometrics •Token authentication •Full PKI support •CMS integration Smart Card •Device authentication •Client access control •Encrypted communication TPM www.m2sys.com© 2014
  • 6. How Does Biometric SSO Help Increase Security? Biometric secure Single Sign-On (SSO) software allows you to increase security and reduce the expense of password management at your bank. Our enterprise password management and network security software is an ideal solution for banks and financial organizations who are looking to secure their networks against risky password practices among users as well as lowering support costs for resetting passwords and dealing with unauthorized access. Key Benefits  Replace insecure passwords that are used to protect data, emails, login, etc. with biometrics  Easily scale from one to thousands of users with multiple types of authentication devices  Protect corporate data from unauthorized access and insider threats  Generate real-time reports showing which users are accessing specific PC’s, networks, and applications  Reduce help desk calls  Fast return on investment (ROI) www.m2sys.com© 2014 Enterprise Password Management & Network Security Software
  • 7. Features and Benefits: • Enterprise Login : To computers (desktops/laptops), core software, banking apps, web servers & websites • Biometric Single Sign-On (SSO): Secure one-touch login to any application • Centralized User Management: Centralized management of user’s rights, policies and credentials right from active directory users and computers • Strong Multifactor Authentication: Fingerprints, finger vein, palm vein, smart cards, passwords or any combination of these credentials • Authentication in core banking software: Integratable with any CRM and product lifecycle management software platform that powers core banking operations • Wide Range of supported Hardware: Use either M2-FuseID™ (multimodal reader), M2- FingerVein™ or any M2SYS fingerprint reader • Database compatibility: Supports any SQL compliant database, including MS SQL Server, Access, MySQL, Oracle 9i, DB2, Informix www.m2sys.com© 2014 How Does Biometric SSO Help Increase Security?
  • 8. Corporate Headquarter: 1050 Crown Pointe Pkwy. Suite 850 Atlanta, GA 30338 USA Asia Office: House-279, Road-19, Mohakhali DOHS, Dhaka 1216 Bangladesh E-mail: info@m2sys.com Phone: +1 (770) 393 0986 Website: www.m2sys.com Get Social: Facebook: https://www.facebook.com/m2sys Twitter: @M2SYS LinkedIn: http://www.linkedin.com/company/m2sys-technology Blog: blog.m2sys.com YouTube: http://www.youtube.com/m2sys Google+: https://plus.google.com/M2SYS Contact Us www.m2sys.com© 2014