News
Barclay's rolls out two-factor authentication for online banking
April 19, 2007
AMSTERDAM, Netherlands - Gemalto is providing Barclays Bank PLC with a tailored product that will support Barclays' project to offer stronger authentication for online-banking customers.
The Gemalto solution includes authentication devices and a full-service design of readers, fulfillment and distribution to the Barclays customer. The contract calls for the delivery of over half a million units by the end of the year and includes options for additional deliveries in 2008.
Barclays' strong authentication program is aimed at preventing online fraud related to remote banking and helps prevent the theft and use of online-banking credentials.
When the bank decided to implement this large-scale scheme, ease-of-use and convenience were determining factors, it said. Barclays' customers will be able to generate one-time passwords to authenticate themselves at log-in and sign transactions by inserting their chip-enabled cards into Gemalto's device, which requires customers to enter PINs. Customers can carry the devices and perform secure online transactions from any personal computer.
The device is compliant with the standard industry specifications - EMV, MasterCard and Visa Chip Authentication Program (CAP) 2007, and APACS requirements.
"This contract with Barclays recognizes Gemalto's leadership in the digital-security arena," said Jacques Seneca, president of Gemalto in Europe. "We have been selected among a number of security-solutions experts through a very comprehensive process."
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