28 May 2017
Visit cib.db.com

Citi rolls out Vasco Digipass authentication tokens to business customers

03 May 2006  |  9221 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)

Finextra news in your inbox

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

Related stories

HSBC to issue Vasco authentication tokens to UK business customers

HSBC to issue Vasco authentication tokens to UK business customers

10 April 2006  |  19620 views  |  0 comments
Citibank to deliver ATM services at 7-Eleven stores

Citibank to deliver ATM services at 7-Eleven stores

04 April 2006  |  3706 views  |  0 comments
ANZ National Bank issues Vasco Digipass authentication tokens

ANZ National Bank issues Vasco Digipass authentication tokens

21 March 2006  |  7648 views  |  0 comments
Dexia Bank to issue Digipass card readers

Dexia Bank to issue Digipass card readers

14 March 2006  |  10682 views  |  0 comments
US banks fall victim to large-scale hacking and skimming fraud

US banks fall victim to large-scale hacking and skimming fraud

10 March 2006  |  15617 views  |  0 comments
Citibank blocks ATM cards after retailer breach

Citibank blocks ATM cards after retailer breach

07 March 2006  |  18770 views  |  0 comments
Citibank to trial contactless payments on subway

Citibank to trial contactless payments on subway

30 January 2006  |  10036 views  |  0 comments

Related company news

 

Related company information

Vasco

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit dh.comvisit www.response.ncr.com

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
13601 views comments | 53 tweets | 81 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7911 views comments | 12 tweets | 24 linkedin
R3 raises $107mR3 raises $107m
7226 views comments | 16 tweets | 16 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
7055 views comments | 12 tweets | 21 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job