ANSI X 9.117:2012

The financial services industry relies on several time-honored methods of electronically identifying, authorizing, and authenticating entities and protecting financial transactions. These methods include, but are not limited to: Personal Identification Numbers (PINs) and Message Authentication Codes (MACs) for retail and wholesale financial transactions, user IDs and passwords for network and computer access, and key management for network connectivity. Over the last forty years banks, investment, and insurance companies have developed risk management processes and policies to support the use of these technologies in financial applications.