Shenzhen Development Bank licenses Todos remote authentication technology

Shenzhen Development Bank licenses Todos remote authentication technology

Swedish security firm Todos Data Systems has won a deal to supply China's Shenzhen Development Bank (SDB) with two-factor customer authentication technology.

Todos says SDB is replacing a combination of fixed passwords and public key infrastructure (PKI) USB tokens with its remote authentication technology, eCode.

The bank will provide its retail Internet banking customers with tokens and scratch cards supplied by Todos. The multi-factor authentication products are supported by the vendor's eCode server.

As well as improving security Todos says its technology will enable DBS to decrease costs by minimising the need for support calls.

Earlier this year SDB began working with 15 other Chinese banks as well as the country's Financial Certification Association to develop anti-fraud mechanisms to improve security for online banking customers.

The banks involved have agreed to create and share an online banking 'blacklist', and to cooperate on any investigations of fraudulent activity. They also propose working together to monitor the latest security technology developments and will organise seminars and forums to share information.

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