ASB First To Bank on RSA® Mobile 2-Factor Security

Tuesday, 17 June 2003, 9:58 am
Press Release: ASB Bank

ASB First To Bank on RSA® Mobile Two-Factor Authentication For Internet Security

- ASB Bank Selects RSA Mobile Solution To Expand Business Opportunities And Enhance Convenience For Online Banking Customers -

AUCKLAND, 17 June 2003 – RSA Security, the most trusted name in e-security®, has announced a technology partnership with banking service and technology leader ASB Bank, to implement RSA® Mobile two-factor authentication software.

The agreement is the first for RSA Security in the Asia Pacific region and allows ASB Bank to develop a range of security options for its customers around the rapidly growing online banking market. The RSA Mobile solution will enhance the overall security framework already in place at ASB Bank.

ASB Bank’s Internet banking customers are conducting more than three million transactions per month over the Internet. Clayton Wakefield, Group General Manager of Technology, ASB Bank, says, “We are seeing outstanding growth in the Internet banking market in New Zealand with the business banking market exhibiting growth similar to that experienced in the retail sector in the late 1990’s. We are constantly reviewing our existing security environment so we can best protect our growing online business, and this deal with RSA Security creates a new platform for us to do this.”

The RSA Mobile solution is designed to make it easier than ever for customers to conduct their banking business in a secure manner via the web, at a time and location of their choosing. The software enables bank customers to use their existing mobile phone as a secure authentication device, helping to ensure that individuals are positively identified before they can access sensitive account information and banking services.

RSA Mobile software generates a unique, one-time access code once a user has commenced logging in to a system and immediately delivers the access code via SMS messaging to the user's mobile phone. To complete the login, the user simply enters the access code to verify their identity. Users benefit from a simple login that eliminates the need to remember multiple passwords.

Because RSA Mobile technology leverages existing mobile infrastructure, ASB Bank will not need to distribute any special hardware or software to its end users. This greatly simplifies the deployment process and reduces deployment costs. Additionally, the software is designed to scale to millions of users, without requiring a corresponding increase in the number of administrators. This scalability, combined with streamlined administration, enables the bank to cost-effectively maintain security as the number of remote users grows.

Commenting on the deal, Wakefield said, “ASB Bank prides itself on technology leadership, and the RSA Mobile solution is a unique, simple and easy to use solution that has been specifically designed for validating customers identities in mobile environments. RSA Security’s technology leadership, combined with a can-do attitude, confirmed it was the right business partner for ASB.”

ASB Bank will utilise RSA Mobile software to develop and expand the range of security options available to customers, in order to provide them with a choice of secure authentication options. “Two-factor authentication such as RSA Mobile software is widely recognised as a stronger form of security than static passwords. We believe that a growing number of customers will embrace mobile authentication solutions because of the extra level of convenience it offers in terms of not needing to carry an authentication token. This choice and convenience are two more ways that we can differentiate our offerings from our competitors,” concluded Wakefield.

Richard Turner, vice president Asia Pacific, RSA Security, said, “RSA Mobile software helps organisations achieve the goal of providing highly secure, two-factor authentication to a geographically dispersed user base in a cost-effective manner. By leveraging the widespread use of mobile phones in New Zealand, RSA Mobile technology helps make secure access affordable for a much wider range of enterprise and consumer applications than was possible in the past."

ASB Bank expects to announce details of new online banking security solutions for customers based on RSA Mobile software in the coming months.

© Scoop Media

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