FFIEC Compliance and Beyond

Developing a strategic vision for securing online relationships with customers means making security choices that will address today's requirements and can adapt to help meet tomorrow’s challenges.

To realize this vision, it is necessary to carefully assess an institution’s online transactions and the level of risk presented by each type of transaction. The FFIEC advises financial institutions to carefully examine their current online practices.

Specific attributes of a financial institution’s online services should be examined during the risk assessment process. Financial institutions need to consider which types of customers they are securing; the capability of their current transaction methods; information sensitivity and existing security; the ease of use and impact on the customer experience; and the overall volume of transactions completed.