Volkswagen Bank Secures Mobile Transactions and Meets PSD2 Requirements with OneSpan’s Mobile Security Suite

September 3, 2019

OneSpan’s technologies help protect users from account takeover and mobile malware attack losses while improving the customer experience

CHICAGO and BRAUNSCHWEIG, Germany – September 3, 2019 OneSpan™, a global leader in software for trusted identities, e-signatures and secure transactions, today announced that Volkswagen Bank, a wholly owned subsidiary of Volkswagen AG, has implemented OneSpan’s mobile application security to protect the bank’s financial transactions and help ensure PSD2 compliance while enabling a positive customer experience.

OneSpan used its mobile SDK, Mobile Security Suite, to develop and protect PhotoTAN-App, a standalone mobile authentication app solely for Volkswagen Bank. PhotoTAN-App communicates directly with Volkswagen Bank’s mobile banking app and is used to sign transactions initiated either online or via a mobile device. The app also integrates Mobile Security Suite to enable app security including biometric authentication, application shielding and Cronto® technology.

OneSpan’s Cronto solution enables the bank to comply with the PSD2 authentication and dynamic linking requirements. This patented visual transaction signing solution does so using a graphical cryptogram made of colored dots to encrypt transaction details, which can only be read by a trusted device. The solution helps banks counter account takeover as well as banking Trojans such as man-in-the-browser attacks by establishing a secure connection between the device and the bank.

“The financial industry is changing rapidly as the result of higher customer demands, the move to mobile and new regulations,” said Volkswagen Bank Project Manager, Mario Bandau. “OneSpan has proven to be knowledgeable in all areas, providing us with the necessary advice and the solutions we need to deliver the kind of experience customers request while ensuring PSD2 compliance,” added Volkswagen Bank Project Manager, Andreas Feller.

“With PSD2 coming into effect in September, our customers have been turning to us for expertise and innovative solutions,” said OneSpan Senior Vice President of Global Sales, Dan Dica. “Cronto is a unique technology available in the market in that it combines security and support for regulatory compliance with a seamless customer experience. This combination is important because it enables our customers to advance their digital transformation easily and securely.”

About Volkswagen Bank

Volkswagen Bank GmbH, which was founded in 1949, is a wholly owned subsidiary of Volkswagen AG. The products and services of Volkswagen Bank GmbH range from the financing of new and used vehicles of all the Group’s brands, over direct banking, to dealer financing.

With a balance-sheet total of 83 billion euros as at December 31st, 2018, Volkswagen Bank has long been Europe’s leading automobile bank. As measured by its volume of deposits totaling by more than 32 billion euros at the end of 2018, Volkswagen Bank direct, a division of Volkswagen Bank, is one of the leading direct banks in Germany.

About OneSpan

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 and on TwitterLinkedIn and Facebook.

Copyright© 2019 OneSpan North America Inc., all rights reserved. OneSpan™ and Cronto® are registered or unregistered trademarks of OneSpan North America Inc. or its affiliates in the U.S. and other countries. Any other trademarks cited herein are the property of their respective owners.

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Frauke De Graeve 
Public Relations Manager
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Sarah Hanel
Global Director of Corporate Communications 
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