Thursday, November 15, 2012

Bring existing systems of banks into authentication framework

12 November 2012

Editor, Forum Page
Straits Times

The Infocomm Development Authority has replied that the "authentication framework for online transactions is already in place (ST, 12 Nov). This framework allows for multiple authentication providers to be registered.

Its strategy appears to be promoting the OneKey security token issued by Assurity Trusted Solutions and to persuade the banks, which are the biggest users of online authentication now, to switch to this system.

My suggestion was to find a way for the existing authentication systems of the banks to be brought into the national framework. This will allow the existing security token issued by a bank to be used for authentication of online transactions from third parties, such as security firms and government agencies.

This will save on the heavy cost of issuing and authenticating new tokens to existing bank customers and to the general public. It also bring in a large number of existing users to the national framework, at minimal cost to the country.

The banks should be allowed to collect a fee that is adequate to cover their additional cost of providing the authentication service and provide a small margin to recoup their investment. Their customers will also appreciate this service.

I look forward to a positive approach from IDA to this suggestion.

Tan Kin Lian

1 comment:

Allan Lee said...

Mr Tan, I do share your view:

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