Enhanced Online Banking Security: Zero Touch Multi-Factor Authentication

Internet usage and the online banking sector are experiencing spectacular growth. Worldwide, there are over a billion Internet users at present. In North America, the percentage of the population with Internet access is at 68%. Online banking has been the fastest growing Internet activity in the U.S. over the last five years, with 53 million users, or 44 percent of the U.S. population. This growth in popularity has not gone unnoticed by the criminal element. Online fraud has become major source of revenue for criminals all over the globe. This has made detecting and preventing these activities a top priority for every major bank. Reuters reports that according to a US Treasury advisor Valerie McNiven the broad category of Global cyber-crime turned over more money than drug trafficking last year.