Cronto to secure online banking with CrontoSign visual signing technology
19 April 2011 | 3901 views | 0
Cronto(tm) introduces CrontoSign(tm), a revolutionary standalone hardware device for securing online banking transactions against Trojan malware attacks, with an unprecedented combination of convenience and cost of ownership.
The CrontoSign device is the perfect companion to the CrontoSign mobile client, offering unrivalled user experience and allowing online banking customers to verify transaction details in a fraction of a second, for secure access to banking services anyplace, anytime.
"The CrontoSign device is the most advanced implementation of our Visual Transaction Signing technology. This level of image processing performance has previously only been available in other industrial applications with high-resolution scanning devices costing hundreds of euros; Cronto is proud to be World's first company to deliver it at a price point competitive for retail banking deployments." says Igor Drokov, CEO, Cronto.
Based on the patent-pending Cronto Visual Transaction Signing technology, the transaction data is delivered to the device through the visual channel: a camera at the back of the device automatically captures the Cronto visual cryptogram image from the computer screen instantly decoding, decrypting and displaying transaction details for user verification. CrontoSign also features a multi-line screen for convenient review of transaction details and transaction confirmation code.
"CrontoSign simply provides a secure display for transaction details verification: the bank decides what data they want to display to the user to verify a specific transaction, our technology ensures it is instantly delivered to the end user securely and conveniently." says Dr. Elena Punskaya, CTO, Cronto.
Online banking criminals are constantly inventing new fraud scenarios, and CrontoSign is devised to adapt to these. Security credentials are delivered via the visual channel, which allows the bank to implement and adjust flexible security management policies.
The CrontoSign technology is currently deployed within the photoTAN(r) Online Banking Pilot of Commerzbank AG - one of the leading banks for private and corporate customers in Germany. David Kreuzinger, Head of Retail Online Banking Portals at Commerzbank AG, is very positive about the results: "We have already experienced the ease and convenience of the existing CrontoSign solution for mobile devices, and this additional standalone hardware option provides even further versatility, enabling both the bank and customer to choose the most appropriate solution for them, without compromising security. This development will allow to create potential full rollout scenarios with just a single security solution, where a back-end implementation is fully independent from the customer's front-end preferences."
The CrontoSign device extends the Cronto Visual Transaction Signing solution enabling the bank to protect their customers today and adapt to the threats and business requirements of tomorrow.