Sumitomo Mitsui Banking Corporation implements DIGIPASS 275
Sumitomo Mitsui Banking Corporation (SMBC) is one of the largest banks in the world. More than 22,000 employees guard the bank’s mission: providing valuable services that help its customers to build their own prosperity, to create sustainable value for its shareholders founded on growth in their business, and provide a challenging and professional rewarding working environment for its dedicated employees.
Problem
SMBC needed additional security measurements to meet the changing environment and to counter diversified attacks. The company also wanted to strengthen the value of its banking services and to endorse its customers’ confidence.
Challenge
User-friendliness and a high level of security measurements were the main concerns. Other requirements were the device’s easy-portability, its fashionable design and the solution’s intuitiveness. It also had to be a proven solution.
Solution
DIGIPASS 275 was selected in order to give the end user the possibility to choose his preferred authentication tool. DIGIPASS 275 can generate OTPs and has an e-signature functionality, so user authentication and electronic signing can be executed by the same device.
Key Project Principles
A growing number of fraud cases
The number of criminalities, fraud cases and incidents on the Internet, such as phishing and man-in-the-middle attacks, is growing very fast, also in Japan. In the last few years, not only financial institutions but also many other organizations have been targeted. In this environment, SMBC realized it had to consider a more sophisticated security measurement to protect its Internet banking services. The bank called in a consultancy company, so that an independent third party could evaluate a range of different security solutions, such as static passwords, table of random digits (TAN), one-time passwords, risk-based authentication and browser/malware detecting solutions.
The most imperative points for the bank were the ease of understanding and user-friendliness, the possibility to share the security model with its affiliate financial companies and the implementation of a future-proof solution that could withstand future advanced attacks. In the end, VASCO’s DIGIPASS technology proofed to be the solution that met all requirements.
Easy, convenient and intuitive
The most adjusted solution to meet the above requirements was VASCO’s DIGIPASS 275.
"We concluded that a risk-based solution or a browser/ malware detection solution would be too cumbersome for our users. With the customer in mind, we looked for a more intuitive and portable solution. Of course, it needed to be a proven solution able to protect our users from advanced fraud schemes, such as man-in-the-browser attacks," said Yuji Konishi, Manager of Retail Banking, SMBC.
VASCO’s DIGIPASS 275 offers an optimal balance between user-friendliness, cost-efficiency and security. The device offers unbridled security against financial fraud and man-in-the middle attacks. Providing an ultimate user experience, DIGIPASS 275 is a highly efficient, cost-effective and highvolume solution for any financial organization looking to add strong two-factor authentication to its security infrastructure.
Related client stories
National Bank of Fujairah relies on VASCO’s DIGIPASS to protect corporate applications and transactions
National Bank of Fujairah (NBF) was incorporated in 1982 and has had a long established reputation in the areas of corporate and commercial banking, trade finance and treasury. As a leading bank in United Arab Emirates, NBF has always set great store by security and data protection. Therefore, the bank has decided to implement VASCO’s DIGIPASS technology to protect its internal applications and to make sure its corporate banking users can approve transactions securely.
Mizuho Bank introduces electronic transaction signing to secure online banking with DIGIPASS 275
Mizuho Bank, known as one of Japan’s three major banks, is the financial institute with one of the largest customer bases in the country. In order to secure their online retail banking services, VASCO’s DIGIPASS 275 with electronic transaction signing was deployed.
Danish Jyske Bank integrates VACMAN Controller to protect its corporate network
With more than 225,000 shareholders and 3,500 employees, Jyske Bank is the third-largest bank in the Danish market with 108 branches. Every day, these employees log on to the central network in order to access the applications and information they need, including those who regularly work from home. In the latter case, access from the home stations to the corporate network has to be secured thoroughly. Jyske Bank therefore implemented VASCO’s core authentication technology VACMAN Controller.
DnB NOR, Norway’s largest financial services group, implements VASCO’s DIGIPASS to enable optimum security for digital documents
DnB NOR, Norway’s largest financial services group, implemented VASCO’s DIGIPASS to secure the BankID scheme. BankID delivers a public key infrastructure (PKI) solution enabling members from the Norwegian public to identify themselves and sign digital documents from authorities, companies and other organizations on the Internet. BankID requires no smartcard infrastructure, smartcard readers or any proprietary software on the end-users’ PC. The DnB NOR customers’ private key is stored in a central electronic vault and safeguarded by DIGIPASS solutions.