Full disclosure: Klint Borozan is SVP of Positive Networks.
Everyone agrees the time has come to roll out two factor authentication for on-line banking transactions. The challenge on the part of the bank, on-line payment systems, on-line equity trades, has been the cost, training, acceptance, and logistical nightmare of deploying tokens. In a financial insights article, 80% of survey responses indicated they understood the need for tokens and two 2FA. However, 74% indicated they found it troublesome to use and manage. Thus, the data concluded that tokens were inhibiting on-line banking. Novel ideas such as Phonefactor have simplified the 2FA problem for web transactions, and go farther in feature development to offer real time fraud alerts to immediately lock out violators. Go to phonefactor.net for a demo and free version.