On June 9th, the FTC will enforce a new law to help improve the security of sensitive customer data - basically, all the info you get from a buyer on their financing application.
To make sure your account is in compliance with this new regulation, a multi-factor authentication will be added to your login prior to the compliance date.
Keep reading below for more detailed answers to some frequently asked questions.
What is MFA?
What is MFA?
Multi-Factor Authentication (MFA) is a method that requires users to provide multiple types of authentication. MFA can greatly increase the security of systems and applications, and reduce the risk of unauthorized access or data breaches.
The good news here is that it means very little to your actual Octane Dealer Portal experience. Only once every 30 days, instead of just using a password to login to the Octane Dealer Portal, you will be asked to verify your identity in a second way. The most common / fastest / easiest / least intrusive way to do this is by having Octane send an automated text message to your cell phone with a unique code you can enter to complete your login.
Why are we doing this?
Why are we doing this?
The Federal Trade Commission (FTC) issued updates to its Safeguards Rule, which require companies like yours, and ours, to undertake new procedural, technical, and contractual steps to protect consumer’s sensitive and other personal data. The amended Rule’s requirements must be met by June 9, 2023.
How can I authenticate?
How can I authenticate?
One-time authentication tokens will be sent via SMS to an individual’s mobile cell phone number. This phone number will be used by Octane to send you the secondary factor of authentication, in the form of a 6-10 digit code.
Email will not be available for authentication during the initial rollout, but will be coming soon!
How do I enroll in MFA?
How do I enroll in MFA?
Before June 1, 2023 we will be rolling out MFA activation to our dealers and you will be notified via the portal, if you have not previously set up MFA you will be prompted to set up and enroll in MFA. All you will need to do is provide your mobile cell phone number to receive authentication codes, and complete the authentication using the code you received.
What about my personal information?
What about my personal information?
Your data and any contact information used for MFA will not be used to spam you. Multi-factor authentication (MFA) is a security mechanism used to protect your accounts from unauthorized access.
The types of information used for MFA, such as a phone number or email address, will be used by Octane to send you the secondary factor of authentication, such as a code or link. This information will not be shared, used or sold to third parties for marketing or spam purposes.
How often will I have to do this?
How often will I have to do this?
Only once every 30 (thirty) days, you will be required to authenticate with MFA during login to the Octane Dealer Platform.
How can I get support?
How can I get support?
Feel free to reach out! Our team is available Monday – Saturday from 9am – 10pm ET and Sunday from 12pm – 8pm ET. If you're logged in to the Octane Dealer Platform, you can also chat with us!