Bank of America Fortifies Online Banking Security With Help From Intel

Bank of America Fortifies Online Banking Security

Bank of America Corp (NYSE:$BAC) will begin adopting an additional layer of authentication for its online banking services. This comes amid a wave of high-profile data breaches at several U.S. companies.

In an official statement, BoA claimed that it would incorporate Intel Corp.’s (NASDAQ:$INTC) Online Connect technology, which enables fingerprint touch payments, into its online banking systems as early as beginning of next year.

Indeed, cyber-security is gaining serious attention from U.S. companies as concerns rise among financial market participants and regulators.

Further, last month, Equifax Inc (NYSE:$EFX ) disclosed that cyber criminals had breached its systems between mid-May and late-July, stealing sensitive information of millions of Americans.

To put the worry into numbers, BoA saw around $600 million this year toward information security, chief operations and technology officer Cathy Bessant stated.

The company is seeing to spend a similar amount again this upcoming year.

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About the author: Jennifer is a University of Western Ontario graduate with a degree in International Business. She strives to excel as a content creator in the digital sphere, working with clients in the Finance and Tech industry to leverage clickable taglines, images, and articles in driving traffic. When not writing, Jennifer enjoys photography, copywriting, and video production.