Brazil's Banco Itau is rolling out multi-factor authentication technology from e-security outfit Vasco to 1.6 million users of its retail Internet banking service.
Under the agreement the bank will implement Vasco's Vacman Controller system and roll out the vendor's Digipass GO3 authentication devices which generate unique one-time passwords for use when logging on to Web banking accounts.
The roll out of the Vasco authentication technology to over 1.6 million online retail customers comes five years after Banco Itau introduced the system for its corporate clients.
Vasco says Banco Itau is the first Brazilian financial institution to start a full deployment of its technology. The vendor has targeted the Brazilian market since opening a sales and support office in Sao Paulo in 2007.