I must admit. I would much rather see Bank of America give away our SLIM, and protect their customers against Clampi, Zeus and Conficker, which are Trojans which steal passwords, usernames, OTP's, etc. in "real time".

I would much rather see a promotion designed to protect consumers from the evils of Phishing, DNS Hijacking and Cloned Bank Websites.

I would also prefer to see them spending $25 per customer on a promotion that is useful to all involved, (including the bank itself) by providing a device that eliminates typing...the cause behind the fraudsters being the ones doing the "swiping."  It also enables online bill payments and P2P Money Transfer in "real-time!"

Think about it, for the first time...online banking customers could log in and authenticate themselves in the same manner as when they take cold hard cash out of an ATM. Using existing bank rails! Using existing cards!. Using existing PINs! Using More than Existing Security!  Using Existing Customers.  Using Competitors Customers who flock to the more secure way to bank online!

If banks and consumers trust the methodology at ATMs, and what we provide is a 100% replication, (sans skimming devices and hidden cameras!) then it is 100% logical to infer that it is more trustworthy than using the existing guidelines for "multi-factor authentication. I'm not alone in my thinking...



"I would go as far as to say that multi-factor authentication as defined under FFIEC, isn't sufficient to meet the environment we're in," says Tom Wills, analyst at Javelin Strategy & Research.







Thanks Tom...I agree, and all I have left to say are three things.



1. I believe it is logical to think that it is only a matter of time before banks actually do provide their customers with a "swipe/don't type" secure authentication. It's happening by the millions overseas... (i.e. Barclays/Todos) ...and we 3DES DUKPT E2E Encrypt the PIN as opposed to an OTP.



2. If Bank of America can afford to give away $25 in cash, then I know that they can afford to give away our SLIM.



3. If your cardholder data is going to be swiped, would you not rather be the one doing the swiping?