DG VERLAG Delivers Secure E-Banking with VASCO CRONTO Technology
Germany’s second largest retail banking group, Cooperative Financial Network, protects customers from sophisticated online banking attacks while helping comply with PSD2
OAKBROOK TERRACE, IL and WIESBADEN, GERMANY — November 7, 2017 - VASCO® Data Security International, Inc. (NASDAQ: VDSI), a global leader in digital solutions including identity, security and business productivity, today announced that DG VERLAG, partner and service provider for Volksbanken, Raiffeisenbanken and other cooperative banks, now offers VASCO’s DIGIPASS 882 with CRONTO® technology to secure e-banking and mobile banking.
Referred to as Sm@rt-TAN photo by DG VERLAG, VASCO’s patented visual transaction signing solution CRONTO Technology is used in combination with the technology and standards in place in the German banking industry (Deutsche Kreditwirtschaft, DK). Together, the solution secures online banking for Volksbanken and Raiffeisenbanken customers.
The device enables banks to effectively defend against sophisticated hacking attacks by authenticating users and signing transactions. Banking customers use the Sm@rt-TAN photo device with CRONTO by inserting their chip cards and scanning the encrypted matrix of colored dots, similar to a bar code. The graphical cryptogram is instantly decoded to confirm transaction details, which ensures only customers can authorize online banking transactions on their accounts.
Banks can also feel secure knowing that the authentication process using CRONTO technology is PSD2 compliant for strong authentication – the data captured ensures the confidentiality, integrity and authenticity of every transaction and meets the regulation’s requirements for strong authentication. The end-to-end protection of communication between users and the bank, as well as the visual validation feature, provides users with a quick and convenient way to check each transaction.
“Customer convenience is the most important factor for us as we want to make it as easy as possible for the cooperative banks to do business with us,” said DG VERLAG Member of the Board, Franz-J. Köllner. “Thanks to the added ease of use and security of Sm@rt-TAN photo customer transactions can be executed quickly, conveniently and securely.”
“When individuals join cooperative banks, they are placing their trust in that organization,” said VASCO Chief Executive Officer, Scott Clements. “CRONTO technology helps customers get a return on that trust by providing security and an improved customer experience.”
About DG VERLAG
The Deutscher Genossenschafts-Verlag eG (DG VERLAG), Wiesbaden, is the competence center for solutions, services and products of the cooperative financial group Volksbanken Raiffeisenbanken, the goods and service cooperatives as well as the cooperative institutions in Germany. With its offerings, DG VERLAG supports the market success as well as the efficiency of its members and customers. As the card competence center of the cooperative financial group, it provides the Volksbanken and Raiffeisenbanken with the products of the cooperative card family as well as devices to secure online banking. http://www.dgverlag.de/
VASCO is a global leader in delivering trust and business productivity solutions to the digital market. VASCO develops next generation technologies that enable more than 10,000 customers in 100 countries in financial, enterprise, government, health care and other segments to achieve their digital agenda, deliver an enhanced customer experience and meet regulatory requirements. More than half of the top 100 global banks rely on VASCO® solutions to protect their online, mobile and ATM channels. VASCO’s solutions combine to form a powerful trust platform that empowers businesses by incorporating identity, fraud prevention, electronic signatures, mobile application protection and risk analysis. Learn more at VASCO.com and on Twitter, LinkedIn and Facebook.
Copyright © 2017 VASCO Data Security, Inc., VASCO Data Security International GmbH. All rights reserved. VASCO®, CRONTO® and DIGIPASS® are registered trademarks of VASCO Data Security, Inc. and/or VASCO Data Security International GmbH in the U.S. and other countries.
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