Bank Leumi adds msystems authentication technology to e-banking platform

Source: msystems

msystems (NASDAQ: FLSH), a leader in smart personal storage, today announced the launch of mToken, a new USB-based platform that offers two-factor authentication, smart card-based services, secure storage and on-device applications for banking.

The mToken platform also supports smart card-based enterprise and consumer applications in a variety of industries, including insurance, telecoms, and healthcare. With the rise of identity theft, phishing and other online fraud, there is a strong need to offer a portable, user-friendly smart card-enabled platform for seamless two-factor authentication and security services, such as digital signature and data encryption.

mToken from msystems is designed with ease of use in mind to enable consumers to securely authenticate for online services from anywhere, without the need to carry and install drivers and new software. With mToken, enterprises and OEMs can offer new, plug-and-play applications and additional smart card-based services to their customer base. mToken's smart development tools help organizations to create specific user scenarios, customized applications and diversified offerings to meet the requirements of almost any industry.

By plugging mToken into any connected computer with a USB slot and authenticating with a password, the customer gains easy access to applications, account information and enterprise and retail resources. Data stored on mToken is always encrypted with its smart card cryptographic key while additional on-device security layers protect the user from online identity theft.

"Intended to improve security as a way to increase the viability of online business, mToken was created with 3 S's in mind: security; simplicity; and seamlessness," said Daniel Schreiber, vice president of marketing and business development for msystems' retail and enterprise division. "Based on msystems' more than 17 years of flash expertise, robust intellectual property portfolio and advanced security technology deployed in millions of smart cards throughout the world, mToken contains innovative security features, secure storage and applications within a reliable, simple USB smart drive. As such, it represents a new way to securely enable online transaccactions across a wide range of industries."

Bank Leumi, a leading Israeli financial group with an international network of more than 300 branches and offices throughout the world, is working with msystems to integrate mToken with its online banking services.

"Bank Leumi continuously seeks advanced technologies that enhance the quality and security of our customers' online banking experience. We were very impressed with msystems' new mToken solution which provides strong security features, as well as added benefits that will make it easier for our customers to bank online," said Mr. Itzhak Malach, Leumi's first executive vice president, head of operations, information systems and administration. "We are proud to lead the way in implementing this solution as a part of our eBanking security infrastructure, and see it as a valuable, secure platform for developing additional online financial services."

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