ActivIdentity Corporation (NasdaqGM:ACTI), a global leader in strong authentication and credential management, today announced that it has signed a contract with The Co-operative Financial Services (CFS), part of the largest consumer co-operative in the United Kingdom.
By deploying the latest version of ActivIdentity 4TRESS Authentication Server, a versatile authentication platform, CFS is securing for its 1 million online banking customers a higher level of security to conduct transactions. The selection of 4TRESS at CFS continues ActivIdentity's market leadership in Business-to-Customer authentication solutions.
ActivIdentity's versatile authentication server secures money transfers, account updates and the addition of new payees. CFS's retail customers use their bank issued debit or credit cards to generate one-time-passwords for authentication and transaction signing. By replacing static passwords with 4TRESS strong authentication the bank is further protecting customer data with industry standard EMV security embedded on every debit and credit card issued by the bank.
Tony Britten, Director of Financial Crime Management for CFS, summed up what 4TRESS is set to deliver to CFS customers: "CFS has built its reputation on business and investment best practice. We aim to sustain customer confidence through effective fraud prevention. Offering our customers a simple way to improve their online banking security is a key driver for us." CFS has researched the market for an appropriate provider and as Tony says, "ActivIdentity's industry leading expertise, highly efficient support for EMV CAP authentication and the ability to use the same authentication infrastructure for multiple business units were key reasons behind our decision to appoint them."
"In the latest market overview on authentication, analysts see versatile authentication servers as the best solution for organizations that want to adopt multiple authentication methods and create a central hub for the organizations authentication infrastructure," said Michael Sotnick, executive vice president, worldwide sales and field operations. "4TRESS offers a simple way to add new authentication methods and migrate legacy methods without changing the authentication infrastructure. 4TRESS supports open standards like EMV and OATH, meeting the most important standards for strong authentication in retail banking in the United Kingdom and worldwide."