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Session Description:
The
deadline imposed by the FFIEC has come
and gone. Banks scrambled to conduct
their risk assessments and to select
their multifactor authentication (MFA)
solution. At this point one would think
that US banks have fulfilled all
requirements and would be sitting
comfortably with their individual
responses. But while the majority of
banks certainly got as far as conducting
a risk assessment, only about 50%
managed to have a solution in place by
year end 2006 for retail banking.
Midway through 2007, a fair percentage
of banks are still pondering what to do.
One would imagine that this would be a
fairly simple and straightforward
endeavor. However, MFA is still wreaking
havoc among banks of all sizes. Contrary
to popular belief, MFA solutions are not
running at full speed at many US banks.
Having a solution in place for retail
online banking isn’t enough. Banks are
busy tackling solutions for small
business and corporate online banking.
Furthermore, while many banks have
selected a solution for online banking,
few have tackled other electronic
banking channels such as the telephone
or mobile banking.
This session will examine the present
state of multifactor authentication in
retail and wholesale banking, analyze
MFA options for telephone and mobile
banking, and explore what Canadian banks
are looking for in an MFA solution.
This program is appropriate for senior
financial executives with responsibility
for Retail and Wholesale Banking, IT
Security, Product Management, and
Marketing Research and Strategy
teams.
About Jacob Jegher:
Jacob Jegher, based in Montreal, Canada,
is a senior analyst within Celent's
banking group. Mr. Jegher's current
research focuses on emerging
technologies and strategies in the
banking industry, including security, IT
spending, customer relationship
management, cash management,
cross-border payments, and commercial
lending.
Mr. Jegher has been widely quoted in the
press including The New York Times and
the Globe & Mail. Mr. Jegher is also an
experienced speaker and has presented at
numerous industry conferences and
corporate events.
Before joining Celent, Mr. Jegher was an
analyst for BCE Emergis, a leading North
American e-business company based in
Montreal. In this role he was
responsible for strategic analysis as
well as market and competitive
intelligence. With a focus on both the
US and Canadian financial services
sectors, Mr. Jegher analyzed a wide
range of e-business products, companies,
and technologies.
Before working at BCE Emergis, Mr.
Jegher was a manager of information
systems at Research One International, a
healthcare consulting and market
research firm based in Canada. His
responsibilities included managing the
corporate IT infrastructure.
Mr. Jegher earned a bachelor of commerce
in finance and management information
systems from McGill University. He is
fluent in English, French, and Hebrew.
About Celent:
Celent is a research and consulting firm
focused on the application of
information technology in the global
financial services industry.
The
firm has two basic offerings:
-
Research, providing members with
continuous knowledge and advice, and
-
Consulting, working with clients on
specific strategy issues.
Founded
in 1999 by veteran financial services
technology analysts, Celent is an
independent, self-financed, and
profitable firm dedicated to providing
unbiased information and advice to
financial services firms.
Celent's analyst team is organized by
financial services industry vertical:
Banking, Securities & Investments, as
well as Insurance. These analysts
produce monthly research reports for our
members, and are available to members to
further explore issues and questions
that may arise. This direct access to
Celent's analysts means that members can
immediately contact established experts
on a large variety of issues within
financial services technology.
In addition, these same analysts engage
in strategy and management consulting
projects for both members and non-member
firms. Our research and consulting teams
are one and the same, which means that
our strategy consulting clients have
direct access to the knowledge and
expertise gathered as part of our
research practice. This knowledge is
fully brought to bear on specific client
issues, providing Celent with a
significant head start on consulting
projects.
www.Celent.com
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