From the Wires
Raiffeisen Switzerland Launches Cronto Solution for Secure Online Banking
By: Business Wire
Nov. 19, 2012 04:00 AM
Raiffeisen, a leading Swiss bank, is the first bank in Switzerland to offer Cronto's Visual Transaction Signing Solution as next-generation protection for their online banking customers. Available to customers today, CrontoSign will help to defend online customers from most advanced attacks poised by Trojan malware specifically targeting online banking.
Pascal Dürr, Head of Electronic Channels at Raiffeisen, Switzerland, says: "We have been looking for a solution that can offer both the security of transaction signing and the user experience that meets the expectations of our 840,000 e-banking customers. We chose CrontoSign for our customers because it offers strong security, yet is extremely simple to use. "
The CrontoSign solution will be known to Raiffeisen customers as “PhotoTAN”, and is recommended by the bank both for secure login and payment authorisation. During the login process, the CrontoSign image will be displayed on the webpage and the PhotoTAN App would automatically recognise it using the camera of the smartphone. Then, similarly to the security cards currently used, a unique password will be shown to the customer to complete the login. The advantages of the PhotoTAN App are really highlighted when customers use it to authorise their payment instructions: in addition to the confirmation code, the App will decode and display the payment information – for example, amount and recipient. All this information is securely transmitted from the bank to the customer’s mobile phone using the CrontoSign image that is unique to every customer and every transaction.
“There are over 3 million logins and over 5 million payments per month initiated by Raiffeisen`s e-banking customers and we are proud to be working with Raiffeisen to enhance the security of these transactions”, adds Igor Drokov, CEO, Cronto.
Raiffeisen's customers can now download the PhotoTAN Raiffeisen Switzerland App from Apple App Store or Google Play. More information is available at www.raiffeisen.ch/phototan
To experience the CrontoSign technology first-hand, please download the CrontoSign mobile app for your iOS or Android device and try it with the demo account at www.crontosign.com.
Cronto Limited is a leading provider of secure visual transaction authentication solutions for online banking, based upon Visual Signing Technology born out of leading edge engineering research undertaken at the University of Cambridge. For more information, visit www.cronto.com.
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