BEDFORD, MA. - November 24, 2009 -
RSA, The Security Division of EMC (NYSE: EMC), announced that Fi-Tek, LLC has deployed the RSA® Adaptive Authentication platform to enable TrustPortal™ online wealth management customers to meet U.S. Office of the Comptroller of the Currency (OCC) compliance mandates that require strong authentication to help prevent identity theft. The OCC charters, regulates, and supervises all national banks and also supervises the federal branches and agencies of foreign banks.
TrustPortal™ is Fi-Tek's flagship hosted solution for fully-integrated wealth management, providing a suite of products to more than 135 financial services institutions that collectively hold more than $100 billion in combined trust assets. RSA Adaptive Authentication replaces an in-house user name and strong password solution with necessary multi-factor authentication controls to protect Fi-Tek customers from online fraud.
"In addition to meeting OCC compliance, choosing RSA Adaptive Authentication above our own developed solution has enabled us to focus on our core business – further developing the TrustPortal™ for the benefit of our customers," said Ramsey El-Fakir, CIO at Fi-Tek. "What's more, it enables our customers to reassure their customers that their wealth management solutions are compliant with industry regulations. Without multi-factor authentication many of them would be unable to continue offering these critical services."
RSA Adaptive Authentication provides secure and convenient access to online accounts using a Software-as-a-Service (SaaS) model. It provides Fi-Tek's customers with enhanced user validation by assigning a unique risk score to each user's activity based on key indicators including device identification, geo-location, and behavioral profiling. When high-risk policies are triggered through the RSA® Risk Engine, TrustPortal™ users can be prompted for additional credentials such as challenge/response questions.
According to El-Fakir, "RSA technology gives our customers confidence that they can conduct their business security using our services. We also knew that they would have no problems accepting RSA Adaptive Authentication as a best-in-class security solution as many of them – already existing customers of RSA – recommended it to us. As we move to a full software-as-a-service business offering, we are confident RSA's own software-as-a-service technology will continue to meet our clients' security needs."
The Fi-Tek TrustPortal™ provides a full suite of products, including investment management with electronic trade execution, compliance, administration, accounting, operations, automated account review and extensive web-based report engines. RSA Adaptive Authentication has been deployed to provide secure access to Client Internet Access™, a TrustPortal™ report engine, where customers are able to view their account details online, keep track of recent activity, see the current value of their assets, and view their latest account statements.
"Consumers will conduct more financial transactions on the Internet if they feel more secure. With RSA Adaptive Authentication in place, well over one hundred financial institutions using Fi-Tek TrustPortal™ will gain an extra level of assurance and confidence that their customers' financial assets and personal information will be better protected," said Tom Corn, Vice President of Product Marketing at RSA, The Security Division of EMC. "The software-as-a-service deployment of RSA Adaptive Authentication is a logical step forward in the evolution of Fi-Tek's security infrastructure that continues to meet its evolving customer needs."
For more information about Fi-Tek, visit www.fi-tek.com.
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