Meridea and QinetiQ team for two factor authentication security

QinetiQ's heritage as a leading multinational provider of secure solutions to governments, industries and banks, and Meridea's 2FA, provides customers with a unique two factor authentication mechanism for securing electronic transactions, without the requirement for hardware tokens.

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The solution uses the customer's own mobile phone to provide additional assurance for the security of transactions.

The organisations will work together to implement Meridea 2FA for retail banks, with QinetiQ providing assistance on security strategies, ranging from policy setting through to advice on implementation. The relationship will see QinetiQ deliver consultancy and services relating to security, while Meridea implements its unique 2FA product in line with the bank's requirements.

"The 2FA system represents a powerful additional weapon in the armoury to defend against current and projected threats in the online banking space. Clients who combine this with QinetiQ's trusted expertise in building secure internet services will dramatically increase their confidence online" says Duncan Hine from QinetiQ Trusted Information Management. "Much of our work involves monitoring and defending against threats as they appear and evolve. We see Meridea's approach as an elegant tool to address a number of current-day issues that are faced by financial institutions. The inherent flexibility of this solution will allow evolution to meet future threats as they arise. We look forward to engaging the market on the possibilities this offers."

"We are delighted to be working with QinetiQ on this important initiative" said Meridea CEO Jukka Riivari. "This is an excellent way for us to scale the delivery of our leading edge technology with an excellent proven partner in the space"

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