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Todos reports Georgian bank wins

13 October 2009  |  1611 views  |  0 Source: Todos

Todos continues its mission to make online banking more secure and more trustworthy with two sales in Georgia.

Both banks selected Todos because it offered high levels of security, flexibility, future-proofing and lower costs with the benefit of local support.

Georgia is a country on the Eastern shore of the Black Sea. It has a population of 4.6m with an economy that has been growing fast and liberalising quickly. In 2007, GDP grew by 12 percent and the World Bank called the country the "number one economic reformer in the world." Services now account for 65 percent of economic output.

TBC Bank had been using a competitor's system but swapped to Todos, buying the company's ezToken device. The token's lower total cost of ownership was a significant factor. Not only was it cheaper to buy in the first place but the longer battery life means fewer replacements over time.

BTA Bank also chose the ezToken over rival devices for most users but also selected the enhanced ezToken PIN. The Todos VAS Server's ability to support different devices and multiple devices per user means that BTA can deploy both and give its customers an upgrade path if they require additional security.

In both cases, the presence of local partner NGT to provide support, consulting and integration was important.

"We're very excited about these deals and what they represent. Smaller countries and growing banks have a huge opportunity in today's digital market," says Bo Emanuelsson, Sales Director EMEA at Todos AB. "Quite simply, they can move faster than their larger competitors. Here we see two important banks in a fast-moving national economy choose trust, security and progress."

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