Members Offered Digital Identity Authentication with New Alliance
CUNA Strategic Services adds OneID as latest strategic alliance provider
MADISON, Wis. (10/14/2012) –– When creating a password, consumers are faced with requests for uppercase, lowercase, at least one number, non-numerical symbol, more than seven letters. Overwhelmed, they often use the same password across many accounts and websites.
Add the continuing threats of identity theft, and the need for identity management and authentication increases. To help credit unions improve both the security of online transactions and customer interactions, CUNA Strategic Services, Inc., (CSS) has added a new alliance provider—OneID. The strategic alliance can assist credit unions as they work to develop better identity management and authentication.
“Between preventing fraud and managing all-encompassing online identities, OneID gives credit unions a tool to build loyalty and heighten their reputation with members,” said Wes Millar, CSS senior vice president.
OneID is a digital identity solution that replaces user names and passwords with a single digital ID linked to the end user’s computers and mobile devices and secured by NSA-level encryption. With OneID, credit unions are able to automatically recognize their members and provide access to accounts. OneID also gives members and credit unions broad controls to limit transactions or require additional verification. In addition, OneID assists credit unions with compliance guidelines from the Federal Financial Institutions Examination Council (FFIEC) regarding multi-factor authentication.
“OneID can help credit unions reduce their losses in card-not-present transactions and eliminate password phishing and other risks associated with password-based authentication,” Millar added.
“CUNA Strategic Services plays a vital role in its community by evaluating and certifying new technologies that will help credit unions save money, meet regulatory standards, and enhance member relationships,” said Alex Doll, CEO of OneID. “We’re honored our digital identity solution satisfies their rigorous standards and we can begin working with credit unions to improve the security and experience of member interactions.”
For more information, visit http://www.cunastrategicservices.com/OneID.
About CUNA Strategic Services
CUNA Strategic Services Inc., owned jointly by Credit Union National Association (CUNA) and the state leagues, saved credit unions more than $30 million in 2011 through its alliance programs. It provides credit unions with access to quality products, services, and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development. For more information, visit cunastrategicservices.com.
OneID is reinventing the very idea of online identity, starting with the elimination of passwords. For individuals, OneID makes it easy to securely sign in to websites and make payments online, while putting users in complete control of the information they share. For businesses, OneID reduces the friction, fraud and costs associated with authentication and financial transactions, employing a level of security that far exceeds currently available identity systems. For more information, visit www.OneID.com.