e-banking is both an obligation and a risk
Many bank customers have grown accustomed to using online banking services as a matter of course. As far as the finance institutes themselves are concerned, online bank transfers and other Web-based services have long been an important element of their business strategy. In the wake of the steady increase in manipulation methods, phishing and online fraud, institutes are now faced with exceptional challenges. They have to protect their own trading name, abide by legal regulations, and guard and consolidate their prime success capital: The trust of their customers.

New means of authentication
Conventional passwords do not offer adequate security, and maintaining and administering them is also a time-consuming exercise. For this reason banks have been seeking new authentication procedures. In addition to dynamic one-time passwords, OpenLimit offers cutting-edge solutions based on Public Key Infrastructures (PKI), which are already used internally by most banks. Whether with the bank’s own cheque card, other smart cards or soft tokens, mutual authentication between the customer and the bank within a PKI increases trust and reduces the risk of fraud.

More business with electronic signatures
Smart cards with certified certificates offer true added value over today’s TAN-based procedure, and this does not just have something to do with the public discussions on online banking security. The usage of certified electronic signatures allows the immediate conclusion of legally binding business deals and contracts on the Internet. By converting their operating processes to this new security standard, banks can open up a host of new business sectors and sales channels and also significantly consolidate customer acquisition and loyalty. Electronic signatures with the solutions from OpenLimit can be used for both legally binding business processes in productive sales environments, as well as for express transactions in day-to-day online banking.