Citibank Adds Third-Factor Identification for Banking Customers

To keep its business customers' accounts secure, Citibank is turning to tokens. The bank's CitiBusiness Online customers will receive a special token that generates a new, unique password for each time the customer accesses an online session with the bank.

The token, which is the size of a thumb, is used in concert with an existing log-in process such that the account user has to enter their username, password, and then also add the token-generated password. According to Citibank, the addition of a third identifying credential will help minimize its customers' exposure to problems created by keyloggers and spyware.

The token that Citibank chose to use was the Digipass GO3 from VASCO, which has an estimated 20 million of those tokens in use around the world.