20 October 2017
visit www.avoka.com

SpareBank 1 adds risk-based authentication to Nets 3D Secure programme

09 January 2017  |  2710 views  |  0 Source: NETS

The SpareBank 1 Alliance has expanded its cooperation with Nets on 3D Secure to include Risk-Based Authentication (RBA). This solution enables quicker and easier online shopping for SpareBank 1's personal customers without compromising on security.

The authentication solution that SpareBank 1 will offer its cardholders is based on a number of predefined parameters and criteria, with the result that customers can often complete an online transaction without additional authentication. This makes online shopping very quick and easy for customers.

Increased convenience - same high security level
Risk-Based Authentication is used in combination with BankID and BankID mobile, already familiar to customers. RBA will help to boost online sales by making things much more straightforward for consumers without compromising on security.

"This solution will improve the customer experience of online shopping. Cardholders have sometimes found 3D Secure a bit cumbersome to use, especially for minor purchases and repeat purchases from the same store. With that in mind, we think this will also boost turnover for online shops, with fewer customers abandoning their cart without completing the purchase," according to Øystein Lysvik, General Manager, Cards at SpareBank 1.

DNB has been using this solution for about a year, while the Sparebank 1 Alliance has recently resolved to introduce the service.

"Because paying is so much easier now than before, we've seen a substantial reduction in the number of customers abandoning their electronic cart at the point of payment. This improves the online shopping experience and helps stores to make more sales," says DNB Senior Specialist Frode Lauvås.

Mobile solutions increase the demands for user convenience
Nets provides the 3D Secure service for many banks in the Nordic region, including the largest three Norwegian banks. The service ensures that the cardholder and the store are able to complete transactions securely during online shopping. Using 3D Secure protects the cardholder from online fraud while ensuring/guaranteeing settlement of the transaction for the store.

"RBA resolves a challenge faced by cardholders using 3D Secure and online shopping.
The growth of mobile solutions introduces additional demands for simplicity and user-friendliness. Nets is constantly working to improve customer experience of its solutions without compromising on security," according to Jørgen Stråtveit, Senior Vice President of Financial & Network Services at Nets.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.capgemini.comvisit www.innotribe.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15903 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9009 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8140 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7183 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6327 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job