What is Multi-factor Authentication?
Multi-factor Authentication (MFA), is a second layer of security that reduces the risk of unwanted access to your account. It requires a two-step identification process every time you login to your account.
Your bank or financial institution may add MFA to your login as an added security measure, to protect your private financial information.
How are my data feeds impacted by Multi-factor Authentication?
MFA impacts the ability of the client portal to automatically retrieve transactional data. This is due to the MFA feature requiring you to follow the two-step identification process, which is a security feature that the portal cannot automate on your behalf.
If you have a data feed that has MFA enabled, you will need to log into your client portal and update your login credentials each time you want to refresh and/or retrieve data.
NOTE: It is recommended that you update your online login credentials at intervals no longer than every 4 weeks, to ensure the data is brought through without the risk of losing information between updates.
How do I know if my bank or financial institution has Multi-factor Authentication enabled?
Upon login to your bank or financial institution's website, if MFA is enabled you will be required to follow the MFA process to gain access to your account. A common example of the MFA process is using a username and password to login, and then entering in a verification code sent to your smartphone or using an authenticator app to confirm that it is you.
My financial institution has enabled MFA, how do I update my login credentials for my bank feeds?
If you have identified that your bank has enabled MFA, you will need to log into your client portal and update your credentials each time you want to refresh and/or retrieve data.
For further assistance, visit How do I update the login credentials for my bank feeds?