Indian YES BANK Implements PortWise Secure Application Access

Private Indian bank, YES BANK, has adopted PortWise as its corporate standard for Secure Application Access for all retail banking customers reflecting its commitment to combating the issues of identity theft and fraud. YES BANK has launched its Retail and Corporate Net Banking service, which will offer some first-of-its-kind features, including two-factor authentication, RTGS (Real Time Gross Settlement) and Single Pin through PortWise’s sophisticated authentication and transaction authorisation procedures.

YES BANK will be the first ‘Two-factor authentication’ enabled online banking offering in India. Two Factor authentication works on two levels of authentication. A customer will be required to input a username and password to access his account and for transactions above a certain value, will be sent a one-time password through his mobile phone or PDA for that transaction thus providing a second level of authentication. The PortWise solution will also enable YES BANK to offer retail customers secure Single Pin access allowing the customer to use his ATM PIN to access all direct banking channels, including the Internet, thus freeing the customer from the hassle of remembering multiple pins. PortWise is the industry’s first fully integrated and completely extensible software platform for Secure Application-Centric Access. The PortWise software platform provides a holistic approach to secure internal and external access to applications. Using the PortWise software platform, it is possible to provide completely secure access to critical information and applications for internal users, the mobile workforce and integrated distributed partner networks from any device in any location. YES BANK intends to deploy PortWise as a single sign on application for all corporate Internet banking customers and for internal systems as well over the next year.