Strong customer authentication involves multi-factor authentication that uses more than one method to validate the identity of the user. Implementation of this technique has helped reduce the rate of banking fraud in the organization. Businesses that have better security measures in place are often perceived to be more trustworthy.
Customers are keener to choose such businesses for their needs. Due to this benefit, more and more businesses are making a part of their operation. Let us looks at the steps involves in the implementation of SCA in the business.
Important Things Considered When Implementing An SCA?
When implementing an SCA, major emphasis is put to ensure that the data is dealt with to a minimal extent. It should not be distributed without the consent of the individual. It is important to obtain permissions.
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Also, the information should be securely stored only when it is essential and for a minimum period. To ensure the security of the user data, SCA uses authentication codes (user ID, password, biometric data, and automated code sent on registered mobile phone number), etc.
What makes this technique highly secure is that the authentication code can’t be forged. It is required for the implementer to develop authentication codes such that fake codes can’t be verified. For a particular code, the user is not allowed to make five failed verification attempts.
Also, there is a fixed expiration time (between 10 and 15 minutes) for every code that includes the code generation and delivery time. In case of failed attempts, a new code is sent. In this way, it puts a limit on the number of repeated attempts to find out the code.
Steps To Build A SCA For A Business
Define the type of business problem that the organization wants to solve. A business should examine the sector-specific compliance needs along with the best practices against the customer impact.
Analysis the Situation
Plan the entire journey of the customer along with touchpoints. Identify critical issues, evaluate risk levels, and figure out the vulnerable areas within the organization.
Look at the best practices performed by industry experts such as consultants, solution providers, and analysts. Based on this, find out what is pertinent to the consequences of the situation analysis.
Selection of the provider
Evaluate the business needs of the vendor by which one can fulfill those needs. Do not blindly choose any vendor/ solution, to avoid performing reverse-engineering of the project.
Determine which stakeholders and what resources in the organization will be required to participate in the planning. Set timelines and milestones to track the project.
You need to implement A/B testing and test cases on particular use cases. Analyse the outcome to improve the program as and when required.
Notify the existing customers in advance about the new security controls to be added, and why they should be added.
After the business finishes testing the procedures and made the necessary adjustments, it can begin with full deployment.
Maintaining the appropriate balance between usability and security is how a business can establish proactive attitudes toward maintaining privacy and trust in the brand. The above steps help a business create a strong internal culture of security that helps avoid violations and stringent penalties from controllers.