The Arcot Advisor - Events

Conference Addresses Emerging Threats

On June 6, Arcot Systems sponsored an executive forum called "Taking eFraud out of eBanking" to help industry and technology experts in financial services learn more about preventing online crimes and protecting their customers' assets.

The world's most famous former hacker, Kevin Mitnick, keynoted the conference. Mitnick discussed the art of deception and explained how people's need to be helpful can easily provide bits of information criminals can use to gain access to customer information.

Arcot CEO Ram Varadarajan and CTO Jim Reno presented details on converging technology and online threats as well as emerging customer-centric authentication that address online fraud. They gave the financial services audience a clearer understanding of the threats consumers face and the latest thinking about protecting customer's identity.

As a result of the talks by Kevin, Ram and Jim, it was apparent to the audience that the username/password authentication method is under attack by hackers and social engineers. They concluded that people need to be educated about the threats and attack methods and should implement technology that reduces the human element in security.

Ram specifically reviewed the changing authentication landscape and discussed how the fraud trend has undermined the efforts of financial institutions to move more customers online. Yet, users don't want to change their familiar username/password interface. He showed how the Arcot solution strengthens username/password by providing strong, two-factor authentication using the familiar username/password interface.

An expert panel including Kamal Bherwani, City of New York, Dept. of Health & Mental Hygiene, Stan Swalbenest, JP Morgan Chase, Hilary Ward, Citigroup, and Doc Vaidhyanathan, Arcot Systems answered questions from the audience.

The conference gave attendees new ways to address the difficult choices they face in imposing stronger authentication procedures, while delivering low-cost, easy-to-use, consumer-centric solutions. Two partners of Arcot, Adobe and IBM, also presented at the conference. The partners highlighted their security strategies and how their integration with Arcot helps them advance their strategic objectives.

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