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Eiger Launches Multi-Factor Authentication (MFA) Solution


Eiger Trading Advisors Limited (‘Eiger’), a leading financial technology company specialising in commodity Murabaha trade facilitation and execution services, are delighted to announce the launch of Multi-Factor Authentication for users of the Eiger Trading Platform.

Customer trust is our highest priority at Eiger. The global threat landscape is constantly evolving, and the types of attacks that can significantly impact a business are on the rise. It’s more important than ever to implement stronger security measures. Which is why, effective 20th March 2023, Multi-Factor Authentication will be available to all Eiger users.

MFA is one of the easiest, most effective tools for enhancing login security, and safeguarding our business and data against security threats.

“We consider the trust of our customers in our platform to be a critical success factor for the company and I am pleased we are able to offer Multi-Factor Authentication as an enhanced security feature,” said Stephen Openshaw, CEO of Eiger. “The protection of customer data is taken very seriously, and we understand that the confidentiality, integrity, and availability of that data is vital to our business. Multi-Factor Authentication will add another layer of protection, alongside our existing ISO/IEC 27001:2013 certification, which demonstrates our ongoing commitment to protect our customer’s data as well as our continued focus on being first in our peer group.”

Multi-Factor Authentication (MFA) enhances security for the account login authentication process. Traditionally, only a password is used as the authentication factor to verify a users identity. If the password is leaked or compromised, attackers may be able to use the account for malicious activities. MFA has been introduced to provide an additional layer of security for users of the Eiger Trading Platform. In addition to the password (the first factor), the system will verify the users identity with a second factor (time-based one-time password). This makes sure it is the user logging in to the Eiger Trading Platform account even if the password is known.

“I believe the introduction of Multi-Factor Authentication for user access is an important feature that will be positively received by our customers,” said Christopher McGuigan, Managing Director of Trading at Eiger. “MFA will provide our customers with comfort that their data is well protected and we look forward to working with our customers to adopt the new feature.

For full details about the MFA requirement, visit the Multi-Factor Authentication FAQ page on our website. This resource is updated regularly with the latest information.

About Eiger Trading Advisors Limited

Incorporated in 2008, Eiger Trading Advisors Ltd (“Eiger”) is a UK-based financial technology firm providing commodity trade facilitation and execution services to the Islamic financial marketplace through an award-winning online commodity trading platform called the Eiger Trading Platform. The Eiger Trading Platform provides real-time support to the Sharia’a-compliant banking products of Islamic financial institutions. We specialise in working closely with all of its clients to support their digitalisation objectives; the automation in the execution and processing of commodity-backed Islamic transactions and providing customers with digital solutions. Over the past decade, the platform has evolved and continues to be the most technologically advanced and flexible Sharia’a-compliant commodity Murabaha trading platform on the market.

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