Bank Millennium has selected OneSpan’s Cronto technology, a patented visual transaction signing solution, that uses a graphical coloured cryptogram to encrypt transaction details. Implementing Cronto will enable for instance batch transaction signing.
Cronto helps secure transactions by enabling users to check transaction details like amount and account number before signing the transaction. The technology also helps counter trojans such as man-in-the-browser or man-in-the-middle attacks by establishing a secure connection between the device and the bank.
Bank Millennium is one of many financial institutions across Europe using Cronto technology to defend against sophisticated attacks, while meeting the PSD2 requirements. OneSpan recently announced successful deployments with Volkswagen Bank and United Bulgarian Bank that use Cronto to sign online transactions.
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