HSBC Brazil to use VASCOs Digipass GO3 for Business Internet Banking

HSBC Brazil will provide VASCOs Digipass GO3 to its business customers to securely perform banking transactions via the banks Connect Bank business internet banking application. The contract with HSBC Brazil is the result of the joint efforts of VASCO and its Brazilian partner, UserID. HSBC Brazils customers transact high amounts of money via Connect Bank on a daily base. Securing the medium they use to perform banking transactions, is crucial. HSBC Brazil chose VASCOs Digipass GO3 strong authentication to allow its customers to use Connect Bank in a secure way. Digipass GO3 is a lightweight, low cost strong user authentication token, especially designed for the large volume banking market. GO3 is extremely easy to use. With a simple touch of a button, the end user generates a unique one-time password. The password changes every 36 seconds and can only be used once. In order to access Connect Bank and to authorize financial transactions, the user must be in physical possession of his token. Digipass GO3 is VASCOs answer to banks that want to give their customers a simple though secure means to use Internet banking applications. In 2003, it is estimated that the Brazilian banking industry lost $30 million due to Internet Banking fraud schemes such as Trojan Horses and Phishing attacks. By offering Digipass, HSBC Brazil protects its customers transactions against fraudsters in a user friendly and cost effective way.