What are they and why are they better than shared secrets?

August 2, 2011 - Jodi Florence, author of IDentity Matters blog

The Federal Financial Institutions Examination Council (FFIEC) recently released a supplement to its “Authentication in an Internet Banking Environment Guidance" calling for banks to use more effective authentication technologies. In this 12 minute podcast, author of IDology's IDentity Matters Blog Jodi Florence discusses one such method the FFIEC recommends called out-of-wallet questions and why they are better than the more well known challenge questions such as the name of your favorite pet or high school.