Stellenbosch-based FireID's technology has been adopted by the UK's online investment Web site, Interactive Investor. FireID will provide an optional extra layer of security on the SharePrice service with strong two-factor authentication for users as part of a trial before possible rollout across the group.
Partnering with FireID, a global leader in the provision of mobile phone-based authentication solutions, Interactive Investor will allow users to reduce the chance of account compromise by requiring a unique six-character security code each time they log in. The code can only be generated via a free application installed on their mobile phone.
Tim Huckle, group CTO of Interactive Investor, says: “Many of our users will already be familiar with the one-time password concept to access their online banking service or work VPN. However, we were keen to offer this technology without the need to have physical devices, typically a key fob.
“Over 90% of our users already have a mobile phone and this is likely to increase further. We think the convenience of being able to use your phone to generate codes and benefit from the enhanced security at a time when phishing and malware attacks continue will be popular with our investors.”
Jenny Dugmore, CEO of FireID, adds: “FireID's authentication solution provides financial institutions and their customers with an efficient, convenient authentication solution that significantly reduces the risks involved with online financial transactions. We look forward to assisting Interactive Investor to safeguard the sensitive online financial transactions of their customers with an added level of security.”
The service will initially trial with up to 1 000 users and supports all major mobile phone platforms.
Interactive Investor is the UK's leading personal finance and investment Web site (www.iii.co.uk). From share dealing to savings, and from ISAs to mortgages, Interactive Investor provides independent tools and information to enable consumers to address all their investment and personal finance needs. Interactive Investor has 1.6 million registered account holders and 1.1 million regular monthly users.
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FireID
FireID is a leading provider of mobile two-factor authentication. Founded in 2006, FireID is located in Stellenbosch and has offices in the US and UK with a broad international network of distributors and resellers. With increased transaction fraud and identity theft, strong authentication has become an essential component for any online or mobile application. FireID's world-class authentication solutions meet the growing authentication needs of corporations, government agencies and end-users that require highly secure and convenient online access to password protected accounts. For more information, visit http://www.fireid.com.
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