Security & Mobile Payments – Solutions around the Transaction
When it comes to Mobile Financial APPs, how can you address security concerns adequately without impacting on user experience by creating additional challenges? That was one of the hot topics of conversation at Cartes 2014, where Vanso MD Denis O’Brien and COO Akin Sawyerr caught up with our authentication solutions partners, Vasco and discussed the latest trends in mobile transaction security.
Vasco, used the occasion to unveil a number of new innovative products. We are particularly excited about the Digipass GO 215, which ticks both the SECURITY and EASE-OF-USE boxes that customers care so much about.
The Digipass GO 215 is a Bluetooth Smart Hardware device which has been designed to bolster the security of web applications accessed by smartphones, tablets and phablets.
When combined with Digipass for Apps, the Digipas GO 215 provides a unique secure Bluetooth connection that delivers a one-time password to your device, delivering the two-factor authentication and e-signing capabilities needed to secure mobile transactions, across the full spectrum of mobile platforms. You can see more here:
In Nigeria, the CBN recommend a minimum of two-factor authentication process for all user access to the services provided which could be high-risk transactions involving access to customer information or the movement of funds to other parties. Mobile Internet penetration is gaining pace as is the migration to mobile for financial services in Nigeria which presents an opportunity for hackers to exploit by targeting the unprotected mobile user. By utilizing a secure Bluetooth connection, the Digipass GO 215 removes the possibility of ‘man in the middle’ attacks targeted at sensitive user information.
As the adoption of mobile platforms continues to expand rapidly across Nigeria’s banking sector, new and innovative approaches to security are needed. That’s why Vanso’s partnership with Vasco is so important. We deliver best in class security alongside our next generation mobile banking applications.
What gets us really excited about this product is that it addresses some very practical concerns to do with physical security and convenience – the GO 215 requires minimal user interaction! The beauty of this hardware is that once the user has pressed the ‘GO’ button, a secure channel is created between the back-end of the application and the device. So once you’ve pressed ‘GO’, you can put the token back in your pocket or bag so you’re not juggling multiple devices or being compromised by conspicuously carrying out a mobile, financial transaction. All the while, the GO 215 is being deployed securely in the background. The perfect solution for enabling ‘on-the-go’ mobile transactions!
At Cartes 2014 in Paris, Vanso Nigeria’s COO Akin Sawyerr (Left), Vasco Global CEO, Kendall Hunt (Centre) and Vanso Nigeria CEO, Denis O’Brien (Right).