Inteligensa Group, a Latin American manufacturer of intelligent card-based solutions for financial institutions, and Aveso, the leader in low-cost, rugged flexible displays, today announced an agreement which allows Inteligensa to immediately offer its customers a one-time password (OTP) DisplayCard that uses Aveso's flexible display technology.
This is a significant agreement because Inteligensa has regional branches in Brazil, Mexico, Colombia and Venezuela, and sells 180 million bank cards annually, or 35 percent of all bank cards in Latin America.
Inteligensa's OTP cards with Aveso's integrated flexible displays are expected to be immediately available to 150 to 200 financial institutions. In the next 18 months, Inteligensa expects that 50 bank institutions in Latin America will begin Display Card product deployment.
"Internet banking transactions and online purchasing must provide the user with full confidence and trust. The high contrast, highly reliable and sunlight readable Aveso displays allow us to leapfrog existing offerings and provide the best possible product to our customers," said Inteligensa Group President Venanzio Cipollitti.
"Aveso's flexible display is very convenient, and the Latin American market will highly appreciate this innovation." Adds Jose Tato, authentication product manager of Inteligensa, "We are eager to introduce this new product to our clients, and have lined up several banks to run test pilots."
The Inteligensa DisplayCard integrates the security of an OTP token directly into a standard credit or debit card. At the push of a button on the card, a one-time passcode is shown on the card's display. During an online transaction, this number is entered into a user interface with other information (such as the user's static PIN and login name) for multifactor authentication. The information is then sent to an authentication server to verify the identity of the user.
"Banks, online brands and security providers worldwide are demanding OTP cards to help protect consumers from Internet fraud and identity theft," said Dennis Brestovansky, president and CEO of Aveso, Inc. "We are proud to be working with a company of the status, capability and excellent quality reputation of Inteligensa to deliver against global demand for our display products."