Client Authentication Procedures for Money Movement Requests

We're revisiting our client authentication process for money movement requests and I'd love to hear what other firms are doing.

We're considering a combination of challenge questions and text verification (Two-Factor Authentication for Redtail | DTS Verify), but we're concerned about making the process secure enough to prevent fraud without making it cumbersome for clients.

For those of you who have implemented authentication procedures:

What does your process look like?
What challenge questions do you use that feel secure?
Have you had any lessons learned or unexpected issues?

Appreciate any examples or advice. We're looking for solutions that are both secure and client-friendly.

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Client Authentication Procedures for Money Movement Requests

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