Access PINs should be the same for IVR/VRU and WebSite applications. PIN assignment strategies fall into two main categories. The primary distinction between the categories is the existence of hard copy transmittal to the user:
Online - Initial Assignment and Reassignment
With this strategy, we try to confirm the identity of the user online, and establish access. Initially, the PINs may be set to the last 4 digits of an SSN for all shareholders, The system will check for a "Blank" or for an SSN = to the last 4 digits and "force" the user to enroll and select a new PIN. At this time, The shareholder also needs to agree to any disclaimers.
By Request - Initial Assignment and Reassignment
With this strategy, PIN assignment is handled by the user requesting access followed by a mailing, or by a blanket mailing that distributes PINs.
There are also hybrids of these approaches, such as online assignment plus follow-up letter, etc. The following scenarios are examples of the two approaches and one hybrid. In either approach a follow up letter, confirm PIN establishment or changes, should be sent to the shareholder.
- Online Assignment / Reassignment
- Offline Assignment
- Hybrid approaches
- Lock Accounts/SSNs for Access
- Recommendations
Online Assignment / Reassignment
GOAL. To provide a secure, but paperless solution to PIN assignment and reassignment.
PIN ASSIGNMENT. The issue here is how to identify the user remotely. This is accomplished by requiring several pieces of data that are unique to the users. The most common approach is to organize the workflow by Social Security Number (SSN), and then request an additional information such as:
- Fund and Account number
- ZIP code
- Home telephone number
- Last 4 digits on an SSN
The process could be reversed, with the account number being the primary reference, and the SSN, or last four digits of the SSN being the confirmation. For VRU applications: If ANI is available, it can be used to further enhance the security of the PIN assignment process. If the caller's home phone number is available on a database, and if the caller sets up the PIN from their home phone, the ZIP code check could suffice for PIN assignment. Otherwise, a "stronger" method is recommended.
For WEB applications: In addition to the above, obtain a traditional keyword, e.g. mother's maiden name. One approach would be to set up a A "radio button box" offering alternatives, e.g. mother's maiden name, city of birth, home phone number, etc.
PIN REASSIGNMENT.
Option 1. The problem here is essentially the same as for PIN assignment, and the same solution can be used. The user can be guided into PIN reestablishment dialog, and the same criteria can be used to reestablish the PIN.
Option 2. Lost PINs are sometimes considered a higher security risk, additional testing (beyond a basic assignment) is sometimes desired.
PIN REASSIGNMENT SECURITY FOR THE VRU ENVIRONMENT. The caller is transferred to a live agent who confirms the caller=s identity by some traditional means. The agent than resets the PIN and transfers the caller back into the IVR, entering the script at a special point that allows the caller to reenter a PIN.
PIN REASSIGNMENT SECURITY FOR THE WEB ENVIRONMENT. Use the data captured in the "mother's maiden name" approach to verify identity.
PIN REASSIGNMENT SECURITY FOR EITHER ENVIRONMENT. The user contacts a live agent. The live agent confirms the callers identity using traditional means. The live agent is given a method of "resetting" the PIN so that the caller comes in as a "first time" caller. This can be a special IVR script, a special web page, or a CRT interface.
Offline Assignment
GOAL. To provide a secure method of PIN assignment and reassignment with a paper trail.
PIN ASSIGNMENT. The user requests a PIN. (This can be done via the script or logic in the WEB CGI.) A random PIN is then generated and sent to the user via secure mailer. (Note: In the case of a web interface, this method is only secure if the PIN is sent to the "address of record". Allowing the user to enter a mailing address does not offer adequate security.)
A variation on this is to do a blanket PIN mailing to all users.
PIN REASSIGNMENT. Similar to the initial assignment, the user requests a new PIN, which is then generated, and the new PIN is mailed. (Note: This is for forgotten PINs. A user that knows their PIN can always do a reassignment on line.)
Hybrid Approaches
A reasonable compromise is to use the "Online PIN selection", but follow with a mailing to the user's address of record. A variations can include delaying PIN activation to allow time for the letter to reach the user.
Another variation has the user contacting a rep, and then the rep enters a command manually (e.g. via CRT, special touch tone command or special WEB page) to restore the user's PIN to the reinitialized state.
Lock Accounts/SSNs for Access
Function and a file should be maintained for Shareholders requesting blocking of access to their accounts for Inquiry and transactions.
Recommendations
Since the purpose of these systems is to provide better customer service through an increased use of automation, unless security concerns rule it out, we recommend the "Online Assignment" approach. This gets the most users online the quickest way possible. This offers more than adequate security for inquiry, exchanges, purchases and most redemptions. The single area that might cause concern is check redemptions. (Check redemptions are the only time that money actually leaves the system.)
Regardless of the method of PIN assignment, mail check redemptions require some additional security, e.g. automatic suspension of redemptions for 30 days after address changes are posted to the account.
FOR THE VRU. The use of SSN plus account number plus fund number for initial activation. For reactivation, an agent may be involved to verify the caller identity and either restore the "no PIN" status via one of the methods previously described or, reenroll.
FOR THE WEB. The use the online assignment, with SSN plus fund and account number to establish PINs initially. Use the "mother's maiden name" approach for reassignment.
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