VASCO Data Security International, Inc. (VDSI), a global leader in authentication, electronic signatures, and identity management, announced the launch of DIGIPASS® 310, its newest hardware authenticator that provides One Time Passwords and electronic signatures.
Two-factor authentication is used by banks and other organizations to secure access to valuable assets and to protect financial transactions from hacking attacks.
The DIGIPASS 310 comes in a slim design that fits inside of a wallet. It features a dual-line graphical display so that the transaction amount and account number may be confirmed before an online or mobile banking customer electronically signs a transaction. This helps protect against Man-in-the-Middle attacks, a type of banking fraud where the transaction data is altered by a hacker.
"Attacks on online banking continue to grow in sophistication and frequency, so banks must respond with more secure solutions that defeat the newest attacks," said Jan Valcke, President and COO of VASCO. "It is very important to VASCO and our customers to be able to provide enhanced online security while making the process easier for users."
Recent high-profile breaches and reports that Russian hackers have amassed 1.2 Billion username and password combinations has driven increased interest in two-factor authentication using One Time Passwords. With a One Time Password, the login password expires after 30 seconds and cannot be used or guessed by hackers.
This new DIGIPASS 310 supports up to four applications from the same device and includes navigation buttons to scroll through different menu items. The device offers One-Time Password, challenge/response, and electronic signing functions. It also has a magnifier feature that allows the user to display the One Time Password in a larger font size by using both lines of the display instead of one. The DIGIPASS 310 allows banks and other organizations to economically deploy a high-performance two-factor authentication solution to reduce fraud and account takeover.