Protect Your Banking Operations with MFA and Single Sign-On
Enhance protection from growing number of cyber attacks
Follow the latest government guidance
Ensure compliance with your internal policies
Cybersecurity is a key concern to any business, no matter the industry. As your firm scales up and your banking operations expand, you only become more vulnerable to breaches and attacks.
In their latest batch of guidance, the UK Government reports that almost 1 in 3 businesses are on the receiving end of attacks at least once a week.
Following Cyber Minister Julia Lopez’s urge that businesses “need to take steps to improve digital resilience now”, the National Cyber Security Centre (NCSC) has published a series of recommended actions. One of the primary suggestions is the use of multi-factor authentication (MFA).
Here at AccessPay, we’ve teamed with Duo Security, a Cisco company, to offer best-in-business MFA. If you’re an existing user of AccessPay, now’s the time to give your banking operations an added layer of protection.
If you’re new here and searching for a way to bulletproof your processes, you’ve come to the right place.
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Why Do I Need MFA?
When dealing with payments, financial data, or personally identifiable information, you need to be able to verify your users and block unauthorised access.
If you imagine your business to be a fort, then emails and passwords are little more than cardboard walls and enforcements. It’s basic protection, yes, but third parties with the know-how or enough brute force can easily intrude.
Multi-factor authentication creates new layers of defence. As a smaller business, your payments are likely less frequent but all-important, with each and every transaction contributing towards your growth.
For multinational corporations, there’s almost no limit on the potential value of your payments, making you a more attractive target for an attack. Not only this, but the added complexity of cross-border payments creates more openings for malpractice.
Although there doesn’t appear to be any immediate threat to UK businesses specifically in light of the Ukraine-Russia war, it has brought cybersecurity back into the limelight. Along with other factors such as hardware security modules (HSM), multi-factor authentication is an essential building block towards airtight banking operations.
AccessPay's MFA Methods
Duo Push Mobile App
Easily approve or deny authorisation requests with Duo’s Push mobile app. It’s compatible with both FaceID and TouchID. If you have existing Duo licenses, we can connect them through AccessPay.
As standard, we recommend the use of a Yubikey. It’s the industry standard for token-based authentication, and is suggested for those not offered a work phone.
For added simplicity, we offer our own two-factor authentication if that’s all you need. You’ll receive a code sent via SMS.
We offer single sign-on functionality. You can continue to use your existing MFA solution within SSO if preferred, and it will work with any IDP that operates SAML.