The Arcot Advisor - Spotlight

Credit Union Picks Future-Ready Solution

When identity theft or online fraud happens to a credit union, it affects all members because they own the institution. That's one reason The Golden 1 Credit Union conducted exhaustive evaluations of several authentication vendors before selecting and setting up Arcot's multi-factor authentication solution to protect its members from online banking fraud. Last year, more than 9.9 million Americans were victims of identity theft and fraud, the nation's fastest growing crimes.

One of California's leading financial cooperatives and the sixth largest credit union in the United States, The Golden 1 Credit Union has $6 billion in assets and more than 600,000 members. Because each of its 74  offices, 270 ATMs and 2,500 cooperative ATMs across California pose potential opportunities for identity theft and fraud, the credit union is committed to protecting its members from these crimes.

"We chose Arcot's solution for its cost-effective, software-based and strong, multi-layered transactional security," said Lisa Swanson, Vice President, E-commerce at The Golden 1.

With the increasing online threat in the United States targeting banking customers, The Golden 1 sought a strong multi-factor authentication solution that would reduce the risk of online fraud for its members. It wanted a secure, easy-to-use, and innovative technology to fortify online protection for its members, and to comply with the new NCUA (National Credit Union Administration) guidance on authentication in an Internet banking environment.

Hacker-proof and easy to set up and use, the Arcot solution offered The Golden 1 Credit Union authentication risk management, strong authentication and digital signing capabilities in software. Its approach provides unmatched security without changing the user's login experience. And, keeping with its tradition of deploying future-ready technology, The Golden 1 selected Arcot because it provided the framework for future members' services, like digital signing of documents.

"Arcot's proven technology provides our members with a seamless, user-friendly experience," said Swanson.

Facing the rising threat of internet attacks, Arcot recognizes the need to provide its customers with a safe, future-ready authentication solution that will support the rapidly increasing use of online banking applications.

"The Golden 1 is dedicated to using state-of-the-art solutions to protect its members from online fraud," stated Carol Alexander, Vice President, Marketing at Arcot Systems, Inc. By selecting our multi-factor authentication solution, The Golden 1 has the ability to reduce the risk of online fraudulent access and improve member satisfaction, while providing its customers with the most secure online fraud protection available on the market today."

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