Xiring & nCryptone launches an offer, which is aimed at banks in order to reinforce the security for their customers' on-line transactions.
Designed as a solution package "ready for use", the O2S Pilot Banking Authentication offer gives banks the possibility to test the solution during 6 months, before starting to implement it. This is the first offer of its kind available on the market.
By the year 2007, it is estimated that more than 130 Million Europeans will be using banking on-line. However the protection of the identity of users is a major issue for banks and so the installation of reliable means of authentication becomes a priority. Two major actors in the sector have combined their expertise to enable banks to quickly and rapidly test the solution without lengthy or expensive investments. The O2S Pilot, based on EMV standard and dynamic password technology, consists of 1000 EMV cards, 1000 card readers from XIRING and a six-months-subscription for ASP service by nCryptone (a Prosodie company) on their authentication server nCServer.
The EMV cards when inserted in the card reader Xi-Sign 4000 from XIRING, enable the display of a one-time-password generated by the EMV card. Completed by a pin number only known by the user, the system guaranties strong authentication (based on 2 factors) for transactions by Internet or by telephone. The card reader Xi-Sign 4000 is entirely compliant with CAP (Chip Authentication Program) from MasterCard.
The authentication server nC Server from nCryptone manages the access rights and plays the role of the conductor in this solution. With ASP mode, as suggested in this offer (application hosted), it can be put into action without delay, thanks to the administration interfaces which are easy to handle.
"This offer which is part of our O2S Banking Authentication program is the perfect consolidation of our intention to help banks to evaluate the most appropriate solution for their needs," announces Georges Liberman, CEO of XIRING. At his side, Pierre Lombardy, DGA of nCryptone, is pleased with the fact that "this alliance, which combines the expertise of major players in the security sector, should contribute to reinforce confidence in on-line services and contribute to their upswing."