28 April 2015

Citi rolls out Vasco Digipass authentication tokens to business customers

03 May 2006  |  8028 views  |  0 Citigroup

Citibank is using two factor authentication technology from e-security vendor Vasco to provide its business customers with secure access to Internet banking services.

The bank has begun issuing Vasco's Digipass GO3 two factor digital authentication tokens to users of the CitiBusiness Internet banking service. The token generates a single-use password for accessing online applications.

Citi says the token substantially reduces the risk of unauthorised access to customers' accounts through key logging and spyware techniques.

By early summer, business customers who use the Internet for cash management services and other financial transactions will be required to sign on using the token-generated security password in order to complete transactions. If they do not have the token with them, customers will still be able to sign on to view limited account information, but will be unable to perform transactions.

Jorge Bermudez, chief executive officer of Citigroup's commercial business group, says: "By offering this technology to our clients, our message is clear: We will continue to look for innovative ways to enhance protection for our clients and their financial assets. While this initiative involves a sizeable technology investment on our part, it is indicative of the type of effort Citigroup makes every day to keep our clients assets safe."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

10 April, 2006
04 April, 2006
21 March, 2006
14 March, 2006
10 March, 2006
07 March, 2006
30 January, 2006

Related company news

Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Banks on the brink as customer experience...
9118 views comments | 48 tweets | 41 linkedin
Future Money roundup: Big banks have their...
4967 views comments | 17 tweets | 9 linkedin
Wells Fargo picks startup accelerator part...
3963 views comments | 5 tweets | 5 linkedin
Nationwide extends video banking to a furt...
3819 views comments | 11 tweets | 13 linkedin
HSBC links to porn site
3777 views comments | 7 tweets | 5 linkedin

Featured job

Competitive base & commission + equity
New York City, NY, USA

Find your next job