E-Banking
Challenges

Clearly, the advent of online and mobile commerce has transformed how we interact with our banks. Rather than visiting a branch or ATM to deposit a check, pay a bill, or transfer money to friends or family, our mobile phones have become a virtual ATM in our hands. Rather than visiting retail stores across town, we browse from the convenience of our tablets experiencing unprecedented choice, convenience and price advantages. Consumers’ ability to access and use financial services at any time, from any location is increasingly widespread. With this comes the expectation that such services should be more convenient and secure.

Solution

With mobile identity, a customer no longer must recall and input a complex username and password to access web applications like online banking. Instead, a user is sent a push notification directly to their secure mobile device to authenticate the web session. The customer simply confirms with a click — no password required — that they are, in fact, initiating a web session.

When making an online transfer, how can a customer be sure the system is not infected with malware ready to intercept the transaction? With a mobile security solution, a push notification can be sent directly to the secure mobile device, enabling the customer to verify the transaction details. Customers receive instant confirmation if a transaction is successful — and can immediately flag fraudulent transactions.

In certain situations, customers may not have an active data connection to receive push notification on their mobile phones. Transaction verification using the mobile QR code reader provides the same level of transaction security and only involves a few more keystrokes to enter an OTP on the online channel to complete the transaction.

Benefits
  • Eliminating passwords for online banking access
  • Creates a more enjoyable user experience as well as mitigating significant security vulnerabilities.
  • With our authentication solutions, a push notification is sent to the customer’s phone to authenticate their identity, which enables them to log into their account‑clean, simple and secure.