Financial and healthcare organizations can now safeguard their transactions with their clients with ChallengeWord. The identity protection provided by ChallengeWord is no longer just for internal organizational transactions. ChallengeWord Personal now extends protection for interactions between businesses and their clients. Here's how ChallengeWord helps businesses and their clients secure their communications.
ChallengeWord Features
Real-Time Identity Verification
ChallengeWord implements a real-time ChallengeWord verification system to ensure that every request for sensitive financial or healthcare data is legitimate. Before processing a transaction or disclosing patient information, employees can request a unique ChallengeWord from the requester. If the response is incorrect or delayed, it immediately raises a red flag, stopping the fraud attempt before it succeeds.
Double-Verification for High-Risk Actions
For high-risk financial transactions or sensitive healthcare data access, ChallengeWord employs double-verification measures. Both parties must authenticate each other’s identity before proceeding, drastically reducing the success rate of impersonation attacks.
Seamless SIEM Integration
ChallengeWord integrates with Security Information and Event Management (SIEM) systems, allowing financial and healthcare institutions to monitor authentication events in real-time. Suspicious activities, such as repeated failed ChallengeWord attempts, trigger immediate alerts for security teams.
Incident Reporting and Audit Trail
When a suspicious request is identified, employees can report the attempt directly through the ChallengeWord platform. All verification attempts and security events are logged, creating a comprehensive audit trail that ensures compliance with financial and healthcare regulations like HIPAA and PCI-DSS.
Mobile Accessibility for Remote Work and Telehealth
With the rise of remote banking and telehealth services, ChallengeWord’s mobile app enables secure verification on the go. Whether a doctor is confirming a patient’s identity over a telemedicine call or a financial officer is approving a wire transfer, ChallengeWord ensures that verification is always within reach.
Compliance and Regulatory Benefits
Meeting Financial Security Standards
Financial institutions must comply with regulations like PCI-DSS and FFIEC guidelines, which mandate strong authentication controls. ChallengeWord enhances these measures by providing an additional layer of verification that goes beyond traditional MFA.
Enhancing Healthcare Data Protection
The Health Insurance Portability and Accountability Act (HIPAA) requires strict safeguards to protect patient information. ChallengeWord helps healthcare providers prevent unauthorized access, ensuring compliance while maintaining seamless operations.
The Future of Secure Transactions with ChallengeWord
As social engineering threats evolve, financial and healthcare institutions must adopt proactive, human-focused security solutions. ChallengeWord provides an innovative defense by empowering employees with real-time verification tools, ensuring that only authorized transactions and data exchanges occur.
Take the next step in securing your financial and healthcare transactions today. Schedule a Demo and see how we can help safeguard your clients from the next cyber threat.
