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US Bank to roll out ICT authentication cards

04 December 2007  |  6697 views  |  0 OTP card

US Bank is to distribute Innovative Card Technologies' wallet-sized ICT DisplayCards, which generate single-use passwords for customers to use when conducting Internet banking transactions.

One-time password generators have traditionally been provided as a separate hardware device, such as a key chain device or token, but US bank has become the first financial firm in the country to offer customers one-time password security in a card format, says ICT.

The wallet-thin cards are individually embossed with consumer names and feature a screen powered by an integrated battery, circuit and switch. The one-time passcode is used in conjunction with a customers' static password to deliver secure dual-factor authentication.

Steven Delcarson, ICT president and CEO, says: "This initial consumer roll-out marks an important milestone in commercialization of the ICT DisplayCard."

Earlier this year Meritz Securities of Korea became the first financial firm to pilot the product and is using the ICT DisplayCard to authenticate online trading and ATM transactions.

The company has also signed resellers agreement with US digital authentication company ActivIdentity and digital security firm VeriSign.

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