OneSpan's Cronto solution used by Swedbank for social engineering attacks protection

Wednesday 27 November 2019 12:55 CET | News

According to OneSpan, Swedbank has begun distributing OneSpan’s Cronto solution to one million of its customers.

The aim of this agreement is to help protect account access and online transactions from social engineering attacks, while facilitating the customer experience. Cronto facilitates Swedbank’s login and transaction signing experience, as it allows customers to simply scan and then enter a six-digit code to sign a transaction. Moreover, the bank is enabled to comply with the PSD2 authentication and dynamic linking requirements.

OneSpan delivers software for trusted identities, e-signatures, and secure transactions, and it offers its Cronto solution to European banks in order to stop social engineering attacks. The innovation is delivered either via hardware or a mobile app, and it prevents attacks using a patented visual transaction signing solution that encrypts the transaction details and averts transaction details from being changed by hackers.

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Keywords: Swedbank, OneSpan, Cronto, fraud prevention, social engineering attacks, identities, e-signatures, banks, transactions , PSD2, authentication, hackers, fraud detection
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime