In the wake of continuing data breaches plaguing organizations worldwide, the instituting of ever more stringent password complexities in order to access servers and applications has become commonplace. Credit unions throughout the U.S. are finding that they must implement similar data safeguards, including the adoption of increasingly complex passwords.
By instituting complex passwords, both end-users and members are coping with increasing levels of frustration.
Picture this scenario: Mrs. Smith visits Ellen, customer service representative at the credit union, to make a deposit. Unfortunately, Ellen has forgotten her 12-character password to access the server, so she must request a password reset from the credit union help desk. It will take approximately 10 minutes to reset Ellen’s password so she can access Mrs. Smith’s account and complete the transaction.
Understandably, both Ellen and Mrs. Smith, not to mention the help desk employees who field hundreds of password reset calls each month, are all a bit frustrated with the experience. It is also a common practice for employees to write passwords on sticky notes on their computers or tuck them under their key boards for easy access, solutions which defeat the purpose of data security by allowing fellow employees to easily obtain login information.
So, what is a credit union to do? Frustrating situations like Ellen’s have led many credit unions to implement single sign-on solutions. Besides the obvious staff efficiencies in this solution, there are hidden marketing advantages as well. Without the need to remember an extensive list of passwords, credit union employees can fully focus on effectively meeting the varied financial needs of their members.
Credit unions with a single sign-on solution up-and-running are finding dramatic increases in user productivity, while substantially decreasing the number of help desk password reset calls. And there can be significant bottom line impact as well. A 25% decrease in a credit union’s help desk calls could yield thousands of dollars in savings in a given year, an achievable reality for those credit unions that are implementing single sign-on solutions.
Verity Credit Union in Washington state is a good example of a credit union who successfully implemented the single-sign-on solution. “Unfortunately, the number and complexity of passwords led to slow log-on times or calls to the helpdesk for password resets. This negatively impacted productivity, our ability to serve members, and our helpdesk costs,” explains Jon Wu, System Engineer for Verity Credit Union.
In just 3 days, and two days ahead of schedule, Verity‘s single sign-on solution was rolled out to all users. Close collaboration between the compliance department and IT team ensured a solution that provided strong authentication and fully satisfied all security policy requirements and credit union regulations. To read the full Verity Credit Union story and see how Verity improved user productivity while decreasing helpdesk password reset calls, click here.
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