Multi-Factor Authentication

To further increase security of personal and account information, financial institutions are continuing to search for ways to enhance online security.

The Federal Financial Institutions Examination Council (FFIEC) recently issued guidelines that require credit unions and other financial institutions to improve their online banking systems by the end of 2006.

The solution many companies are implementing is multi-factor authentication. This is technology that requires users to identify themselves in more than one way.

By using multiple factors to identify a valid user, financial institutions make it more difficult for those with malicious intent to access personal information online. A victim's password would not be enough to give a thief access to their information.

To further increase Home Banking security, Virginia Credit Union introduced Enhanced Authentication in 2006. If you have any questions about this process, please contact us.