News & Media

Class announces addition of multi-factor authentication

Tuesday 18/09/2018 –  Class has announced the addition of multi-factor authentication (MFA) to its cloud based products, Class Super and Class Portfolio, further enhancing Class’ security framework.

This is an important initiative that addresses one of the major industry concerns with cloud-based systems. As more data becomes available online and more systems are connected via APIs, it’s essential to tightly control and protect data integrity and client privacy.

MFA combines known user details, for example user name and password, with an authentication code created by a mobile app, such as Google Authenticator or the Microsoft Authenticator app. Each time a user signs in, they need to enter a newly generated authentication code.

Class gives administrators and access controllers complete flexibility on how they enable MFA for their businesses. They can choose to make it mandatory for selected users through centralised deployment, or request employees across the business to turn it on individually. Class also makes it simple to view and report on which users have or haven’t got MFA enabled.

The introduction of MFA complies with the ATO’s new operational framework for Digital Software Providers (DSPs) who provide cloud software products or services that read, modify or route any tax or superannuation related information. As the ATO works towards making MFA a mandatory requirement, Class will, for now, allow firms to opt some users out as a transitional measure.

Kevin Bungard, CEO of Class, says: “Security is a top priority for businesses everywhere, and something that no company, regardless of its size, can afford to ignore. Daily reports of new security incidents drive home the criticality of having the right measures in place to address cyber risk. We’re pleased to have been able to make MFA available to Class users to provide additional security assurance.”

Katie Timms from RSM, a Class customer, adds: “The SMSF team at RSM manages large volumes of financial data, much of which is related to high net worth individuals, who by their nature are at higher risk of cyber attacks. Security of data has always been a top priority for us, and the introduction of MFA by Class is a great example of added security assurance without too much complexity.”

Media Enquiries:
Lilian Keaty, Marketing Director
Phone: 0449 697 035 or (02) 9016 3063

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