OneSpan Helps Raiffeisen Italy Comply with PSD2 Using Cronto and RASP Technologies
CHICAGO and BOLZANO, ITALY – September 5, 2018 – OneSpan, a global leader in software for trusted identities, e-signatures and transactions, today announced that Raiffeisen Italy has implemented OneSpan’s Cronto and RASP technologies to help meet the Payment Services Directive (PSD2) requirements for authentication, dynamic linking and mobile application security.
Raiffeisen Italy implemented Cronto technology, a patented visual transaction signing solution that uses a graphical cryptogram made of colored dots to encrypt transaction details. Cronto cryptograms can only be read by a trusted device and help counter banking Trojans and social engineering attacks such as phishing and man-in-the-browser attacks. Using Cronto helps Raiffeisen Italy meet the authentication and dynamic linking requirements of PSD2 for securing financial transactions with minimal impact to the user experience.
As part of its mobile-first strategy, Raiffeisen Italy has also launched a mobile banking application that authenticates and secures users. Using OneSpan’s Mobile Security Suite, Raiffeisen Italy’s app integrates app shielding and Runtime Application Self-Protection (RASP) technology to detect and mitigate fraudulent app activities and ensure the integrity and protection of apps and data. RASP helps Raiffeisen meet the PSD2 requirements for mobile application security.
“Our customers are increasingly choosing to transact with us using their mobile devices, so we have implemented OneSpan’s technology to help ensure we can meet our current and future digital transformation needs while also securing transactions,” said Raiffeisen Information System CIO, Alexander Kiesswetter. “Moreover, the technology also helps us meet PSD2 requirements without compromising user experience or security.”
“Enabling frictionless security while meeting regulatory requirements once necessitated multiple technologies and vendors,” said OneSpan Senior Vice President of Global Sales, Dan Dica. “Now, banks can work with a single partner that provides the right knowledge and expertise, as well as the appropriate technology, so they can secure and enable their full digital agendas.”
OneSpan enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. We do this by establishing trust in people’s identities, the devices they use, and the transactions that shape their lives. We believe that this is the foundation of enhanced business enablement and growth. More than 10,000 customers, including over half of the top 100 global banks, rely on OneSpan solutions to protect their most important relationships and business processes. From digital onboarding to fraud mitigation to workflow management, OneSpan’s unified, open platform reduces costs, accelerates customer acquisition, and increases customer satisfaction. Learn more about OneSpan at OneSpan.com and on Twitter, LinkedIn and Facebook.
About Raiffeisen Italy
Raiffeisen Italy is the umbrella organization of 43 entities of Raiffeisenbank in the Italian province South Tyrol. The legally independent cooperatives and their professional associations are members of the Raiffeisenverband, which is guided by the principles of cooperative pioneer Friedrich Wilhelm Raiffeisen and is geared towards cooperative promotion of reciprocity. The bank offers a variety of products, such as payment services, pension funds and health funds.
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Director of Global Corporate Communications