CREALOGIX has already rolled out the solution to major banks in Asia, providing their customers with one single app for banking and authentication. Banking customers do not need to leave the secure environment of their banking app, minimising risk of data misuse and providing unparalleled convenience of on-the-go banking and seamless digital transaction signing. There is no longer a One-Time-Password (OTP) hardware token, generated by a hardware device for each action as part of a multifactor authentication system.
Simple, secure, fast
The soft tokens get around the inherent security flaws and inconvenience of OTP, typically dispatched to the customers’ mobile device via SMS as a mobile transaction authorisation (mTAN). Some banks also still rely on hard copy methods to deliver OTP (paper or plastic scratch card). This method is difficult and costly to deploy on the scale needed for online and mobile banking. The soft token replaces the hard token and provides all the security advantages of multifactor authentication, while also adding the benefits of a better customer experience, simplifying distribution and lowering costs by eradicating the SMS costs and maintenance of hardware devices.
The Strong Push Authentication token resides in a protected environment and uses a separate secure channel for data transmission. The end-to-end encrypted connection between device and bank avoids open Internet and unsecured mobile networks.
Pascal Wengi, managing director, CREALOGIX APAC, said: “For years two-factor authentication was the savior in our armory against cyber criminals. Today, it is no longer enough. It also lacks the convenience we – as consumers – come to expect in today’s digital world. CREALOGIX has worked closely with our clients to develop and deliver an answer to this: one single app for banking and authentication. We are working with some of the largest banks in Asia to deliver the best for the bank and the best for their customers.”
The solution brings together CREALOGIX’s leading experience in delivering highly secure digital banking solutions and the best in class technology from Entersekt, leaders in authentication, app security and payment enablement technology.
Clarence Lim, Precious Communication
Phone +65 6303 0567, Email: email@example.com
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