Leading Belgian Bank Mitigates Mobile Banking Fraud with OneSpan Mobile Security
CHICAGO & BRUSSELS – (BUSINESS WIRE) – OneSpan ™ (NASDAQ: OSPN), world leader in securing remote banking transactions, today announced that Belfius Bank has integrated OneSpan Mobile security suite (MSS) in its mobile application to help protect its customers from the growing impact of cybercrime. OneSpan’s technology provides biometric authentication, risk analysis and other behind-the-scenes application security best practices to enhance the experience of the bank’s 1.5 million mobile users.
Customer satisfaction is essential for Belfius, which is why the bank has developed an award-winning mobile app that goes beyond traditional banking. With its “super app”, Belfius enables customers to access the bank’s financial services, as well as third-party services such as cardless refueling, on-street parking and bus tickets. OneSpan helps protect transactions made through the app while providing a hassle-free authentication process.
Mobile malware attacks increased in the second half of 2020, as Kaspersky discovered 156,710 new mobile banking Trojans.1 MSS detects and mitigates these threats and associated fraud, and helps ensure the integrity and protection of applications and data with application shielding. MSS also provides a security framework for mobile applications which allows Belfius to easily deploy new advanced authentication and security modules as needed and with minimal development.
“OneSpan’s technology supports our vision of delivering a secure application, ”said Jonas De Dobbeleer, Belfius Project Manager, Signing and Authentication. “We have a long history of using OneSpan’s hardware authentication devices and integrating OneSpan’s technology into our application to provide our customers with enhanced security without affecting the user experience. ”
“Fraudsters are increasingly targeting the digital channel due to pandemic adoption and changing consumer preferences, ”said Scott Clements, CEO of OneSpan. “Our mobile security suite is critical to a bank’s ability to detect digital fraud by continuously monitoring and improving the security of online and mobile applications in a way that is invisible to the consumer. Technologies such as application shielding, biometric authentication, and signing of encrypted transactions enable financial services organizations to identify and combat fraud such as man-in-the-middle attacks while maintaining confidence and fostering adoption.
As an integrated bank-insurer with a local decision-making center close to the client, Belfius wants to be meaningful and inspiring for the Belgian economy and society. Belfius is and wants to remain a pioneer in mobile and digital financial services. Constant attention to customer satisfaction is the basis of our excellent results.
OneSpan helps protect the world from digital fraud by building trust in the identity of people, the devices they use, and the transactions they perform. We make digital banking accessible, secure, easy and valuable. OneSpan’s Trusted Identity platform and security solutions dramatically reduce fraud in digital transactions and enable regulatory compliance for more than half of the world’s 100 largest banks and thousands of financial institutions around the world. Whether it’s automating agreements, detecting fraud or securing financial transactions, OneSpan helps reduce costs and accelerate customer acquisition while improving the user experience. Learn more at OneSpan.com.
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