Gemalto Supports Barclays' Large-Scale Roll Out of Two-Factor Authentication Solution for Online Banking in the UK
Gemalto announces it is providing Barclays Bank a tailor-made product supporting Barclays project to offer stronger authentication for online banking customers. The Gemalto solution includes the authentication devices and a full service encompassing design of the readers, fulfillment and distribution to the Barclays customer. In addition, Gemalto produced a unique looking device, customised with the bank's visual corporate identity. The contract calls for the delivery of over half a million units by the end of this year and includes options for additional deliveries into 2008.
Barclays' strong authentication program is aimed at preventing online fraud related to remote banking and helps prevent the theft and use of online banking credentials. When the bank decided to implement this large-scale scheme, ease-of-use and convenience were determining factors. Barclays' customers will be able to generate One-Time-Passwords with the reader, to authenticate themselves at log in and sign transactions undertaken, inserting their chip-enabled banking cards into the Gemalto device and typing in their card Personal Identification Number code. Barclays customers can carry the devices with them wherever they go and perform these secure online transactions from any personal computer.
The device is compliant with the standard industry specifications - EMV, MasterCard and Visa Chip Authentication Program 2007. It also meets the APACS (the UK payment association) requirements.
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