Under the terms of the alliance, Societe Generale will use DIGIPASS 270 to secure its corporate banking customers.
Societe Generale India operates under the license of a Scheduled Commercial Bank and provides a range of banking facilities and services. Recently, the bank launched its online corporate banking services, using the Finacle eBanking system from Infosys, which offers its corporate customers an online login to do their financial transactions.
DIGIPASS 270 is a personal authentication device. In order to gain access to the online banking application, the user needs to generate a dynamic password/one-time password (OTP) on the device. This OTP can only be used once in a limited period of time and enables authorized access to the banking application.
In addition, the DIGIPASS 270 offers an electronic signature functionality. With an electronic signature, part of the transaction amount or the account number is implemented in the calculation of the generated OTP.
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