"Multifactor Authentication"
Enhanced Logon Features Help Protect the Security of Home Financial Services (HFS)
For years, account number and a password (also called an access code and Personal Identification Number–PIN) have been the method for member access to Home Financial Services (HFS) online banking. Recent changes to federal regulation require that all financial institutions provide security beyond username (account number) and password for all online account access.
Financial Plus will be implementing this type of security, called multifactor authentication, to secure member accounts beyond your username and password that you normally use. Implementation is scheduled to begin the week of December 25, 2006.
How does it work?
The method that Financial Plus will be using includes behind-the-scenes monitoring of online behavior for unusual transactions. This approach means that you will log onto your account as normal with your account number and password. Should it appear that a computer other than the one(s) you usually use is attempting to access your account, Financial Plus will use what are called “challenge questions” to make sure that it is you — and not an online criminal — trying to access your account.
What do I have to do?
Financial Plus will begin requiring members to supply personalized answers to a number of “challenge questions.” An example of a challenge question might be, “What is the name of your best friend in High School?” The answer you supply to these questions are very important, as they may be used to verify your identity when you attempt to log in to your online account. Be sure to select questions that mean something to you, and to provide answers that will remember.
How long does it take?
The entire process of selecting “challenge questions” and providing responses should not take more than a few minutes. Financial Plus will prompt you to engage in this process in the near future when you access your account online.
IMPORTANT NOTE: There have been reports from financial institutions of fraudulent, scam e-mails requesting the recipient to click on the link, enter their account number and password, and then answer questions. DO NOT response to those e-mails. Only enter your account number and password when you access Online Banking on the Financial Plus web site.
What if I share the account?
Protecting your username (account number) and password is your responsibility. If you do have a joint owner on the account, be sure that they know the “challenge questions” and answers that you have selected to protect your account.
Will I have to answer questions every time I log in?
No. You will only be prompted with a “challenge questions” if a log in attempt to your account falls outside or your normal behavior when banking online.
Will this affect access to BillPay Plus and E-Statements?
If you have enrolled for BillPay Plus (online bill payer) and/or E-Statements (online access to statements), you must successfully log in to Home Financial Services in order to access either of these additional services.
