VASCO Data Security International Inc. (Nasdaq: VDSI;), a leading software security company specializing in strong authentication products, announced today that the company's Security Competence Center has started offering e-banking security consultancy services.
VASCO will evaluate security risks of current and future e-banking authentication systems in order to provide the customer with the best suited authentication technology.
By adding e-banking security consultancy to its offerings, VASCO extends its Full Option, All-Terrain strategy with tailor-made consultancy services for the banking sector.
Electronic banking is continuously growing but faces sophisticated challenges such as cyber fraud and data breaches. This affects the banking customers' confidence in online transactions and jeopardizes the future of Internet as a business channel.
VASCO Data Security now makes it expertise and experience available to its banking customers by providing them with insight and know-how for building secure e-banking authentication systems. The e-banking security consultancy offering consists of three major components:
- In the security education part, the customer gains understanding of and insight into the latest threats against e-banking authentication systems, such as phishing, whaling, man-in-the-middle attacks and Banking Trojans
- In the security analysis part, the customer acquires a clear view of the strengths and weaknesses of his e-banking authentication system, and its level of security compared to the industry average
- Finally, the customer is advised how to address the identified weaknesses by means of a holistic approach consisting of technical, procedural and organizational countermeasures. This includes a thorough review of the security characteristics of strong authentication technologies at hand, such as hardware tokens, smart-card based and software-based solutions
"VASCO's Security Consultancy workshops are an excellent addition to the company's extensive product offering in strong authentication. A clear overview of the current threats, security guidelines and best practices for optimizing strong authentication mechanisms have helped us considerably in our Internet banking security projects," said Erwin Nys, Head of e-channel Management for KBC Belgium.
"By offering security consultancy to the e-banking market, VASCO strengthens its offering as the Full Option, All-Terrain Authentication Company," said Jan Valcke, VASCO's President and COO. "Our know-how will help financial institutions to secure their end-users with the best suited authentication technologies. As a proven world leader in strong authentication, we have a wealth of expertise, technology and experience available for financial institutions to maintain their customers' confidence in online banking. We use this knowledge and experience not only for developing products that fit the needs of our customers, but also to advise them in the battle against cyber fraud."