Business Challenge
Security is critical to protecting the brand and building client trust. At the same time, productivity and reduced transaction execution times remain important business priorities.
Social engineering techniques continue to evolve and are used at scale, meaning financial institutions must find ways to future-proof online and mobile banking against sophisticated attacks.
Some existing transaction protection practices (e.g., transaction authorization codes via SMS-messages) are no longer effective and will phase out in new versions of regulation standards.
Adopting general use solutions not designed for money transfer applications, can lead to user confusion, errors, and high process abandonment rates.
Implementing a one-option solution creates a single point of failure, cuts out some user groups, and bottlenecks innovation for digital channels.
Protect against sophisticated social engineering attacks
End-users are the #1 attack surface globally as identity, credential theft, and social engineering threats are escalating.
DIGIPASS CX solutions protect organizations against sophisticated social engineering attacks while ensuring a secure and simple user experience.
The DIGIPASS CX offering consists of cloud-connected smart devices designed to fulfill different business needs, from authentication and transaction authorization, to document signing and credential storage.
The Solution
Easy and secure transaction authorization (also known as transaction signing) that thwarts social engineering attacks
Mitigate Social Engineering Attacks
OneSpan’s DIGIPASS CX solutions help prevent fraud and strengthen protection against Trojans, phishing, Man-in-the-middle (MiTM) and Man-in-the-browser (MiTB) attacks
Passwordless solution
Eliminating passwords improves usability. Remove friction and deploy stronger, more convenient authentication with fingerprint biometrics.
Do business, anywhere, anytime
Log on, and sign transactions and documents anywhere, anytime, on any device and in all confidence.
Different connection options
While DIGIPASS CX devices can be connected to the desktop via USB, they are also Bluetooth/NFC-enabled. This means they work seamlessly with any user laptop, desktop computer, tablet, or phone, to ensure maximal user adoption.
Secure remote updates
Secure remote updates can be installed on DIGIPASS CX solutions even after deployment. This gives you the flexibility to adapt quickly to evolving technology, changing business needs, and ever more sophisticated threats.
One device for different needs
DIGIPASS CX devices are designed to fulfill different business needs, from authentication and transaction authorization, to document signing and credential storage.
Analyst Report
OneSpan Global Mobile App Security Vulnerabilities Report
Find out which types of apps are most susceptible to repackaging attacks—and what industry benchmarks you should use to assess your own level of app protection.
Download NowCombat Online and Mobile Banking Threats
OneSpan Cronto solutions strenghten protection against account takeover and phishing attacks as well as banking Trojans, Man-in-the-Middle (MitM), and Man-in-the-Browser (MitB) attacks.
Cronto solutions create a unique electronic banking signature for each transaction using details such as account numbers, transaction amounts or any other text or messaging the bank wants to send. This solution preserves data integrity and ensures authenticity, rendering any changes made to a transaction after it has been electronically signed, invalid.
Simple Scan and Sign
Excellent User Experience
Cronto solutions enable fast adoption and are intuitive to use. The “what you see is what you sign” principle is ideally suited for banks and FIs looking to secure digital transactions without compromising on user experience.
When a user initiates a banking transaction, the details of that transaction are encrypted and presented in a colored QR code. The user simply scans that code and signs the transaction. Cronto solutions offer a passwordless authentication method as no manual input is required to confirm banking transactions.
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Read MoreSecure Channel and Transaction Authorization
Take Control of Transaction Authorization
One of the biggest challenges in combating social engineering is educating and guiding the banking customer to recognize a scam before being tricked into authorizing fraudulent transactions.
By deploying OneSpan Cronto solutions, the bank is in charge of the authorization process, and the trust decision is taken out of the user’s hands. Only the bank can initiate the creation of a Cronto code, and only the intended recipient’s device can scan the code. All data is encrypted and the secure communication channel ensures message authenticity – the transaction authorization request originates from the bank. In addition, banks can decide to visually alert their customers of high-risk transactions.
Cronto solutions work perfectly together with OneSpan’s Intelligent Adaptive Authentication Solutions. By combining solution stacks, banks can dynamically detect fraud, calculate risk scoring, and apply the right level of authentication for each unique transaction in real time.
Success Story
Swedbank implements OneSpan’s Cronto technology to secure transactions and improve the customer experience
Customer
Swedbank is a leading bank with over 7 million retail customers, around 600,000 corporate customers and organizations, 172 branches in Sweden, and 122 branches in the Baltic countries. The group is also present in other Nordic countries, the US, and China
Challenge
Protect account access and online transactions from social engineering attacks without hindering the customer experience.
Results
- OneSpans’s Cronto solution helped achieve compliance with PSD2 authentication and dynamic linking requirements
- Improved login and transaction signing experience – simple scan and sign
- OneSpan Cronto solutions are available in a mobile and hardware version to accomodate every customer’s needs
Enable secure coverage across your full client base
It can be challenging to deploy a solution that is both designed for fast adoption as well as 100% of your customers’ security requirements. OneSpan’s authentication solutions are available in mobile or hardware versions, and work offline to deliver continuity when connectivity is poor.
With OneSpan, banks and financial institutions can deploy a solution that provides a consistent and secure user experience across all digital channels, while offering customers maximum flexibility to choose between hardware or software authenticators.
E-book
Use Case Catalog
Our solution portfolio supports secure, simple end-to-end experiences for your clients. Find out how.
Read nowCustomers use OneSpan solutions to...
Secure transactions and mobile banking application
The bank implemented Mobile Security Suite with Cronto to meet the PSD2 dynamic linking requirements and help mitigate human risk in banking transactions.
- Securely sign transactions
- Protect the bank’s mobile banking application by integrating application security, biometric authentication, and Cronto technology
- Meet PSD2 requirements
Provide best-in-class authentication for corporate and retail clients
Digipass helps the bank to secure all financial and critical transactions online.
- Strong authentication that eliminated transaction disputes
- Boosted customer confidence in the bank’s online services
- Helpful in attracting new customers
Protect users from account takeover and mobile malware losses
Volkswagen Bank implemented OneSpan’s mobile application security to protect the bank’s financial transactions and help ensure PSD2 compliance while enabling a positive customer experience.
- Develop and protect PhotoTAN-App, a standalone mobile authentication app solely used to sign transactions initiated either online or via a mobile device.
- Seamless customer experience
- Comply with the PSD2 authentication and dynamic linking requirements
Questions? We're ready with answers
OneSpan can help you prevent fraud and secure your revenue-generating, client-facing business processes.