The tool is called eStamp and its provider, the anti-fraud and
online security firm Cyota, describes it as a method of reverse
authentication that provides a simple and consistent method for
instilling consumer confidence: when the bank displays the correct
user-selected image, the user knows it is safe to begin transacting
with the bank.
The New York-based company offers eStamp at the cost of 10 cents
per user per year.
Cyota says that eStamp works from any device or location and
does not rely on cookies to deliver the service, unlike other
watermarking solutions. A JupiterResearch study from March 2005
found that as many as 39% of online users delete cookies from their
primary computer monthly. Cyota says this trend can seriously
impact both the usability and consistency of existing methods that
depend on cookies to authenticate the user.
"We began using textual watermark technologies four years ago as
part of our MasterCard SecureCode and Verified by Visa compliant
services to banks," said Amir Orad, executive vice president at
Cyota. "Due to the impact that the latest online threats have
had on consumer confidence, we have enhanced our existing
technology to provide a solid reverse mutual authentication
solution for the online banking channel as well."
Orad continued, "When combined with one of our other security
solutions, banks are better able to provide customers with both a
'sense' of security and 'real' security at the same time."
Last month, another financial services software supplier
announced a tool that detects when a user's browser is about to
access a phishing site and actively prevents the user from passing
his sensitive data to that bogus site. According to London-based
eWise Systems, the tool called IB Secure works by protecting
against DNS spoofing and by validating the SSL (secure socket
layer) certificate on secure protected sites. The system is
continually updated with data about existing fraudulent sites.
