AIB (Allied Irish Banks) is to use new authentication solutions from Vasco to secure the transactions of its internet business customers.
AIB is to use Vasco's Alphanumeric Digipass 550 and Vacman Controller Strong Authentication to manage enterprise online transactions for Irish and UK customers.
Digipass 550 allows transaction signatures to be generated by both numeric and alpha characters, which are commonplace in both the BIC and IBAN payment systems.
Digipass is Pin protected and provides one-time passwords, e-signatures and unique host authentication.
The combination of Digipass generated one-time passwords and transaction signatures offers extra protection against phishing and “man-in-the-middle attacks“.
Seán Jevens, head of eChannel development with AIB, said, "The challenge we faced was to ensure we employed a solution which would also be in line with SEPA standards. We opted for Vasco because of their track record in the financial sector and for their open and flexible approach.”
Transactions will be secured using elements of the account number (or IBAN) and the beneficiary BIC (or sort code), including alphanumeric characters.
Based on these details, Digipass 550 will generate a transaction data signature, which the user must input for validation by the Vacman server.
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