Until recently, bank customers had to use either a TAN list on paper or an additional device such as a TAN generator for authentication. Increasingly this has been replaced by entering a transaction code that is sent to users via SMS message or in a separately installed mobile TAN app. Although more convenient,users of SMS or mobile TAN still have to switch between two separate apps – the mobile banking app that is requesting authentication, and the SMS or TAN app providing the code.
With the new CREALOGIX pushTAN Authentication solution, bank customers do not need to use a hardware device or leave the secure environment of their mobile banking app. Instead, they can authenticate themselves by confirming a pop-up message without leaving the mobile banking app.
Risk of data misuse is minimised
With the new pushTAN Authentication solution, the entire approval process takes place within the mobile banking app, which minimises the risk of data misuse. “pushTAN Authentication combines the highest level of security with a high degree of user-friendliness,” explains Marc-André Dumont, Head of Product Management at CREALOGIX. “This new security feature enables bank customers to authenticate themselves using their smartphone more easily than ever before.” pushTAN Authentication can be used with all CREALOGIX digital banking products – including when securely logging in to an account, making a bank transfer, and setting up a standing order – and it meets all PSD2 requirements.
Cost savings for financial institutions
Banks can use pushTAN Authentication as a plug-and-play solution with minimal implementation cost and adapt its design to match their branding. CREALOGIX offers this new feature in the form of a Software-as-a-Service (SaaS) solution. The highly secure basis of this solution comes from the South African fintech firm Entersekt, and the high-security data centre is provided by the Swiss bank IT service provider Inventx. Taken together, the technology and hosting of the service are designed to be suitable for the rigorous demands of secure, high-performance banking systems. Compared to an SMS-based authentication method, pushTAN Authentication also eliminates the costs of sending messages, which gives banks the freedom to avoid unpopular fees in a tough competitive environment and thus avoid customer attrition.
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