The implementation of the PhoneFactor Universal Banking Gateway (UBG) has enabled the bank to add transaction verification to their online banking platform, powered by Fiserv, US financial services technology company.
As a result, each time an ACH or wire transfer is submitted through United Bank & Trusts online portal, an automated phone call is placed to the customer. The customer answers the call and listens to the transaction details. If the transaction is legitimate, the customer enters their PIN into the phone keypad and the transaction will be submitted to the bank for processing. If the transaction is fraudulent, the customer blocks the transaction instead, triggering an instant notification to United Bank & Trust.
Founded in 2001, PhoneFactor provides multi-factor authentication services to ensure employee remote access and cloud services for enterprises worldwide.
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