Banco de Occidente signs up for Digipass security
21 June 2000 | 1823 views | 0
Guatemala's Banco de Occidente is to use Vasco's Digipass security solution to protect its Internet banking operations and authenticate retail and coporate customers for value-bearing transactions.
Juan Carlos Alfaro, product manager, cash management for Banco de Occidente, says: "We're already finding that secure anytime, anywhere banking is increasing customer satisfaction among our existing customers, as well as their use of our Internet banking services. In addition, our enhanced security is allowing us to attract entirely new customers, since they value our concern on this issue and we have something no other bank in the area can match."
Vasco's token-based security solutions operate on the same basic principle as ATM machines: relying on a combination of something you have (like an ATM card) and something you know (a PIN or password). In this case, the bank's customer's must have their own Digipass authentication device and the proper PIN number to activate the device. The Digipass generates a dynamic password that is valid only for the next 30 seconds.