Vasco Data Security International (Nasdaq: VDSI), a leading software security company specializing in authentication products today announced that Sony Bank Incorporated implemented Vasco's Digipass and Vacman authentication technology, to enhance the security level of its Internet banking service.
Sony Bank is an affiliate of Sony Financial Holdings, that comprises Sony Life Insurance, Sony Assurance and other group companies. Sony Bank started business in 2001 as an Internet bank for individuals. In accordance with its corporate philosophy, the bank provides financial products and services that satisfy customers by embracing their individual views.
Nowadays, the Internet is indispensable in peoples' lives. On the other hand, Internet users are exposed to the rapid increase of cybercrime. The global reach of the Internet means that threats can get around the world in a flash. The Internet banking service is no exception. Fraudulent acquisitions of credentials, phishing, illegal remittances and other cyber fraud are a big issue, not only in Japan, but worldwide. In addition, the methods of these attacks have evolved, becoming more and more sophisticated. It has become a necessity to prepare the right countermeasures to prevent future attacks and to anticipate market trends.
Sony Bank made the decision to implement VASCO's high-level security technology. Its customers can use DIGIPASS GO 7, a device that generates one-time passwords. These passwords only last for a limited time period and become invalid after this short period of time. In the back-end, VASCO's VACMAN authentication platform is capable of processing the large volumes of end-users, typical for a banking environment. VASCO's flexible and strong security solutions are tailored to the bank's needs and improve the quality of the online services and thus the customers' confidence and peace of mind.
"We are very proud that Sony Bank chose VASCO's DIGIPASS technology. We believe that VASCO's strong security solution is a perfect fit for Sony Bank's brand-new IT technology and the bank's future security needs," says Jan Valcke, President and COO at VASCO Data Security.