ActivCard Deploys South Africas First Two Factor Authentication Solution for Retail Banking

Thursday 4 November 2004 22:10 CET | News

South African bank, First National Bank (FNB), has deployed the ActivCard KeyChain Token to their Internet Banking Offering.

First National Bank (FNB) is the first retail bank in South Africa to offer the ActivCard Token Authentication for eBanking to consumers to provide them with time event one-time passwords for logging onto their Internet banking facilities. With this, ActivCard and First National Bank are raising the bar, leading the country in innovation and high security levels for banking transactions on the Internet. The First National Bank offering is also based on ActivCard Authentication Software Development Kit (SDK) solution, an advanced authentication solution that provides banks with the full benefits of eBanking. This Management SDK resides within the bank infrastructure and is fully synchronized with ActivCard devices. This complete offering provides a number of key benefits to the potential network of 250,000 users of First National Banks Internet Banking, including: -- Sustaining credible business practices -- With an ActivCard solution deployed, First National Bank and its users will not fall prey to fraud or be targets of phishing; the system provides critical safeguards against these threats surrounding the rapidly increasing crime of digital identity theft. -- Sophisticated security -- To protect customers from password theft and hacking, phishing attacks and fraud, the token generates a one time password recognized by the banks server. The system thus operates at an extremely high level of security against keystroke-capturing and other password hacking scams, while always remaining simple, logical and practical for the end-user to operate. -- Time limited passwords -- The Token-Protected Online Consumer Banking solution further allows administrators to set time limits on the validity of one time passwords. One time passwords are only valid for a very short time and attacks from phishers will be ineffective. -- Ease of deployment -- Designed for immediate implementation, the Token- Protected Online Consumer Banking solution can be easily added to a banks network infrastructure, without any additional software required on a users computer.

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Categories: Payments & Commerce | Payments General
Countries: World
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