What is MultiFactor Authentication?

Multi-Factor Authentication, or MFA for short, is a term the security industry uses to verify that you are who you say you are.

MFA uses two types of authentication:

Something you know, such as your password or a pin number.

Something you have, such as your computer or a debit card.

(There is a third means of authentication:  something you are, such as your fingerprint or DNA.   But that doesn’t apply to eBanking – not yet, anyway.)

Single-factor authentication uses just one type of authentication.  In the case of Personal eBanking, that’s your password.

MFA adds a second level of authentication, and that is something you have: your computer. 

So why are we doing this?  It’s another layer of security to protect your eBanking accounts.  MFA guards against ever increasing e-mail scams such as phishing and pharming.  To protect our nation’s financial security, the United States Government has asked all banks to strengthen their security procedures.  MFA is our way of answering that call.

So how will MFA impact your eBanking accounts at Morrill & Janes Bank?  Read on.

MFA will “remember” your computer ID.  Next time you log in, if eBanking doesn’t recognize your computer, it’ll ask you a challenge question – a question that you will have previously answered – just to make sure you are you.

In addition, MFA will assign a picture to your eBanking account.  This picture shows up on the same screen as your password prompt.  If the picture is not what you were expecting, that could mean you are on a phishing site.  What does that mean?  That means don’t enter your password, and call the bank for assistance. (Click here to learn more about phishing).

Don’t worry – this not nearly as complicated as it sounds.  When we turn on MFA on December 12, Personal eBanking will walk you through all the necessary setup screens, step by step.  And we’re just a phone call away if you need help.

Tuesday, December 12 is the targeted rollout date.  To learn more about MFA, visit our MFA FAQ page.  For a tutorial on MFA, visit the MFA Tutorial page.