Source: RSA Security
RSA Security Inc. (NASDAQ: RSAS) today announced that Credit Suisse, a leading European bank, has selected RSA SecurID(R) two-factor authentication as its preferred method for authenticating online banking customers.
The decision follows a company-wide security assessment that evaluated RSA SecurID tokens alongside several competing solutions. As a result, Credit Suisse retail and private banking clients in Switzerland will continue to use RSA SecurID tokens to verify their identities when banking online and to protect their accounts from online theft and identity fraud.
Christian Leuenberger, project manager at Credit Suisse, said that RSA SecurID technology has played a key role in building consumer trust in the online banking services of the company. "RSA SecurID tokens were first deployed in 1987 to commercial customers, followed by retail and private banking customers of Credit Suisse in Switzerland. Employees initially used RSA SecurID tokens for remote access only, before their use became mandatory for all logons to host systems in 1997 and to the single sign on application for workstations."
Since then, the user population has grown rapidly. Leuenberger explained: "Research shows that online banking tends to attract a very desirable demographic: consumers who are affluent, mobile and technologically sophisticated; so this has been a big win for us."
Leuenberger added: "The tokens have been well received. Customers frequently comment on their security, portability and ease of use. This trust and acceptance has been a major reason for the increasing use of online banking services, which has helped Credit Suisse reduce its transaction costs while enhancing customer loyalty. Furthermore, with an RSA SecurID authentication infrastructure in place across the organisation, two-factor authentication can be quickly added to new banking applications, speeding the deployment of new offerings and enhancing return on investment (ROI)."
Despite this positive experience, the review of all security aspects remains a permanent task for Credit Suisse. Given the recent growth of electronic services and persistent consumer concerns about online security, other solutions in the marketplace were also examined. While security was an overriding factor, solutions were further evaluated on the basis of portability, ease of use, migration costs, integration costs and distribution. The results of the evaluation were conclusive to Credit Suisse. The RSA SecurID solution was not only satisfactory to Credit Suisse from a security standpoint, but also received the highest total score in the other areas that were evaluated.
Leuenberger said: "As we continue to expand our electronic banking products, we know we can rely on an RSA Security consumer identity protection solution that is convenient, reliable and highly secure."
Tim Pickard, EMEA strategic marketing director, RSA Security, noted that the decision of Credit Suisse is in keeping with the traditions of Swiss banking and the bank's long record of industry leadership.
Pickard said: "Credit Suisse places a high premium on the safety and privacy of its clients. At a time when many banks are just now recognising the urgent need to enhance consumer protection online, Credit Suisse has been offering two-factor authentication for more than seven years, giving it a significant competitive advantage with banking customers. We are extremely pleased that Credit Suisse continues to invest in a consumer identity protection solution and we look forward to continuing this very successful relationship."