EXPLORE EURONETTING Announcements
At EuroNetting we take user access control very seriously, and we are pleased to report there have been no unauthorized access incidents in 17 years of operation of our SaaS platform: our 3-element login process, combined with proactive login monitoring and logging, and automatic lockout at both the user and IP level in response to unusual activity, works well for EuroNetting’s users.
EuroNetting’s optional Single Sign-On (SSO) mode has gone some way to alleviating the need to maintain a separate password for access to the netting system, but it still requires the parent company to have an in-house Active Directory, and users must still maintain and remember their passwords within the directory. Not every company has a comprehensive directory, leaving some users out in the cold still having to log in the old way.
But there are better options: EuroNetting’s preferred higher-level security mode is now to use passwordless 2-factor authentication (2FA).
2FA is a method of verifying someone’s identify by using a combination of two different factors. The two factors can be:
We implemented passwordless user authentication in EuroNetting using 3 alternative methods, all of which offer significant security and functionality benefits:
1. SMS OTP: EuroNetting will send a one-time password (OTP) by SMS (text message) to your mobile device after you initiate the login process by inputting your company ID and user ID on the login page.
When you receive the SMS message, input the OTP correctly within a preset timeout limit, and you will be logged in automatically.
All three of these methods require that you register and validate your mobile number in EuroNetting, but unlike the other two, this method doesn’t require you to install an app on your iPhone or Android mobile device.
2. AUTO OTP: Open the authentication app installed on your mobile device, and then log in to EuroNetting using your company ID, user ID and the current 7-digit numerical password that is automatically updated in the app every 30 seconds.
In addition to being more secure than the OTP by SMS option, this has the added advantage of continuing to work even if your mobile device is offline, because the OTP is automatically generated by the app using the secure token assigned to your account, and this password is time-synchronized with the authentication servers.
3. PUSH: This is our preferred method and it’s also the simplest of all: you simply input your company ID and user ID in the EuroNetting login page, and then respond to an Accept or Deny prompt that appears in the authentication app on your mobile device.
Not only does it not require you to correctly copy in a one-time password, but logging the Accept or Deny response provides useful insight at EuroNetting to potential security issues in real time. However, unlike the AUTO OTP option, it requires that your mobile device is online.
All three of these authentication options require you to register your mobile number in EuroNetting; that number is then assigned an ID and tracked in our authentication directory, which generates a unique token that is logged securely in the authentication app for the AUTO OTP and PUSH methods.
All authentication is monitored and logged by our authentication service. Registered numbers can be instantly removed or updated when necessary. To learn more about EuroNetting 2-Factor User Authentication (2FA), please visit https://www.euronetting.com.
Established in 1992, EuroNetting is a consulting and technology company specializing in the design and hosting of highly customizable web-based multilateral netting and associated services. In addition to EuroNetting's core multilateral netting service, the company has delivered a range of custom services to clients including currency exposure aggregation and analysis, hedge tracking, loan tracking and sales tax validation. Headquartered in Scottsdale, Arizona, USA, EuroNetting has served upwards of 120 large national and multinational corporations across the globe in the Americas, Europe (EMEA), and Asia-Pacific (APAC) regions. EuroNetting - intercompany netting done the right way!