Internet Banking Security Program

On June 28, 2011, the FFIEC issued a supplement to the Authentication in an Internet Banking Environment guidance released in October 2005. The purpose of the supplement is to reinforce the guidance's risk-management framework and update the FDIC, OCC, NCUA, and Federal Reserve’s (collectively, the Agencies’) expectations regarding customer authentication, layered security, or other controls in the increasingly hostile online banking environment.

CoNetrix has developed an online software to help financial institutions (i.e., banks, credit unions, savings associations, etc.) go through the risk assessment process and provide customer awareness and education. The tandem Internet Banking Security Program is a stand-alone software module integrated with the tandem Security & Compliance online software.

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The program is divided into two components:

  • The Internet Banking Risk Assessment features an easy process with a questionnaire to identify risk levels and help you assign layered controls to mitigate related Internet banking and cybersecurity risk. Your risk assessment is customizable based on your financial institution's unique situation.
  • The Customer Education/Awareness Program will provide your financial institution with the tools to deliver education and security awareness to your customers.

In addition, the tandem Internet Banking Security software will provide you with account takeover (ATO/CATO) template documents to assist in your annual reporting to the board and documenting of incident response procedures.

Features

The CoNetrix tandem Internet Banking Security Program software is feature-rich, including:

  • An online framework created and updated by security and compliance experts
  • Downloadable documents in Microsoft Word and/or Adobe PDF formats
  • Free automatic updates during subscription term
  • Free training workshops to help familiarize you with the software
  • Integration with other CoNetrix online software
  • Anywhere/anytime Internet access through a secure, online portal
  • Multi-factor authentication (optional)
  • Multi-user access
  • No software installation or equipment costs
  • The ability to manage several companies’ Risk Assessments and Training with one login (requires a subscription for each company)