Alliance and Leicester plc Case Study

In order to combat these risks several companies have adopted internal and external security measures to ensure the safe transactions of their clients. One such company is Alliance and Leicester plc who in December of 2006 designed a free security system which was specifically geared towards the consumer banking industry. Not only is the system specifically created to avoid threats such as fraud and identity theft, it also allows its customers to access their accounts free from threats such as phishing and pharming. They are achieving this by combining several anti-fraud measures two of which are most prolific. They are the two factor authentication system and the two way authentication system. The first system uses not only the bank identification assigned to each customer but also their internet protocol addresses to authenticate their use. The second system is to protect customers from phishing and pharming. In this system when the customer inputs the site of the bank they are shown a personally chosen unique image and phrase which identifies the bank as being genuine. Such measures have brought a 25% rise in banking transactions and have attributed to savings of more than one million pounds. Surveys have also found an overwhelming approval rate among the customers for this new system which has earned them the moniker “the most secure online bank in the UK (The Computerworld Honors Program , 2007).”

In order to combat these risks several companies have adopted internal and external security measures to ensure the safe transactions of their clients. One such company is Alliance and Leicester plc who in December of 2006 designed a free security system which was specifically geared towards the consumer banking industry. Not only is the system specifically created to avoid threats such as fraud and identity theft, it also allows its customers to access their accounts free from threats such as phishing and pharming. They are achieving this by combining several anti-fraud measures two of which are most prolific. They are the two factor authentication system and the two way authentication system. The first system uses not only the bank identification assigned to each customer but also their internet protocol addresses to authenticate their use. The second system is to protect customers from phishing and pharming. In this system when the customer inputs the site of the bank they are shown a personally chosen unique image and phrase which identifies the bank as being genuine. Such measures have brought a 25% rise in banking transactions and have attributed to savings of more than one million pounds. Surveys have also found an overwhelming approval rate among the customers for this new system which has earned them the moniker “the most secure online bank in the UK (The Computerworld Honors Program , 2007).”

Please order custom thesis paper, dissertation, term paper, research paper, essay, book report, case study from the Order Now page.