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| Subject: Re: Proton vendor Xiring Swiss Bank Union 31/10-smart card reader deployments | |
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Author: anonymous |
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Date Posted: 22:37:20 11/22/02 Fri In reply to: anonymous 's message, "Proton vendor 18/11/02 launches the Moneo Xi-MaxMobile Payment" on 22:31:15 11/22/02 Fri http://www.xiring.fr/uk/news/commpresse/pdf/311002_cpubs.pdf------------------------------------------------------------ UBS, THE WORLD LEADING "PRIVATE BANK" SELECTS XIRING TO SECURE ITS REMOTE BANKING OPERATIONS ------------------------------------------------------------ XIRING and the Swiss Bank Union (UBS) are implementing one of the most important smart card reader deployments in the world : 500 000 Xi-Sign are being distributed to the bank’s customers to secure their on-line transactions. ------------------------------------------------------------ Sèvres, October 31, 2002. ------------------------------------------------------------ UBS, the World Leading "Private Bank", has selected XIRING’s strong authentication solution to secure its on-line banking activities. ------------------------------------------------------------ UBS is one of the first banks in the world to deploy such a large scale strong authentication system to secure its customers’ remote transactions. This system, based on a smart card, provides the bank’s customers with the highest security whilst carrying out e-banking. ------------------------------------------------------------ XIRING has already delivered 500 000 Xi-Sign readers to UBS, allowing the bank to offer its customers remote access to their personal banking information and carry out transactions in a fully secure, mobile and simple way. ------------------------------------------------------------ Transaction security - a major Bank’s strategy to service its customers The Swiss Bank Union (UBS) has a high net worth customer base, distributed across the world in over 50 countries. In the last 2 years, UBS has enjoyed a steady increase in remote banking transactions and realized that they had to put in place an appropriate environment to insure maximum security for all their customer operations, whether they were carried out via the Internet, landline or cell phone, or by fax. ------------------------------------------------------------ UBS decided to take advantage of this situation by becoming one of the first banks to put in place a strong authentication solution, offering its international customer base a secure transaction environment. As a result, its customers enjoy remote access to their personal banking information and can carry out transactions in a fully secure, simple and mobile way. ------------------------------------------------------------ The Xi-Sign from XIRING - the choice for authentication using a smart card After considering various possible options, UBS has selected the Xi-Sign strong authentication solution from XIRING to secure its remote banking operations. XIRING has developed the reader’s embedded authentication firmware that works with the UBS smart card as well as the application allowing the reader to read the CASH e-purse balance and last transactions from the EuroCard / ------------------------------------------------------------ Maestro card. XIRING has already delivered 500 000 Xi-Sign readers, and the deployment started in June 2002 after a successful pilot phase. During the coming months, all UBS e-banking customers will receive an UBS e-banking card and a XIRING mobile reader. ------------------------------------------------------------ A straightforward and secure solution ------------------------------------------------------------ To access the remote banking services, the customer inserts his / her card in the Xi-Sign reader,enters his / her PIN number followed by a variable number (the challenge) provided by the bank during the access request. Then, the smart card computes an alphanumeric code (the response), displayed by the Xi-Sign reader and transmitted to UBS via the PC or by phone for verification. ------------------------------------------------------------ After these simple and quick authentication steps, the customer is able to securely carry out on-line transactions. ------------------------------------------------------------ Among the advantages of this solution, the challenge and the associated response are uniquely calculated each time and cannot be re-used, thereby eliminating any risk from third party interception. Also the confidential information stored in the smart card, as well as the PIN number,are only used inside the smart card and are never transmitted through the PC or the phone,eliminating interception risk. ------------------------------------------------------------ The Xi-Sign brings about a two factor authentication: verification of the physical presence of the card in the reader and verification of the cardholder’s identity by correct PIN entry. The combination of these 2 factors (on the one hand the physical presence of a card and on the other the verification of a secret) qualifies the system in the category "strong authentication". ------------------------------------------------------------ A multi-channel and mobile solution, for a user-friendly customer relationship The response generated by the card and displayed by the Xi-Sign can be transmitted via any type of media (PC, landline or cell phone, fax…) and from any location without any technical installation, connection or modification of the existing environment. The Xi-Sign allows UBS customers to authenticate themselves worldwide immediately and easily. ------------------------------------------------------------ The customization for each customer is done on the UBS e-banking smart card in the same way as for any other banking card. The Xi-Sign reader does not require any customization. This reduces management and logistics time and costs considerably, notably in case of reader loss or theft, and so greatly diminishes the bank’s operational costs. ------------------------------------------------------------ "The implementation of this solution shows that UBS is at the cutting edge of the market, implementing the most advanced solutions to meet the challenges of the continuing technological evolution. UBS can offer its customers the best service available in a context of absolute security, thus bringing side by side the interests of the bank and those of its customers" said Georges ------------------------------------------------------------ LIBERMAN, CEO of XIRING. ------------------------------------------------------------ About XIRING ------------------------------------------------------------ XIRING markets smart card solutions in order to ensure transactions security. In partnership with main institutions (Visa, MasterCard, PWI ...), XIRING proposes solutions for strong authentication, digital signature and secure payment. XIRING is also the world leader for e-purse with 3.5 million readers used daily in 20 countries around the world. ------------------------------------------------------------ Read more at http://www.xiring.com.. ------------------------------------------------------------ XIRING Press Contact ------------------------------------------------------------ KETCHUM - 39, rue Anatole France - 92532 Levallois-Perret Cedex - France ------------------------------------------------------------ Élodie Marchand-Biessy ------------------------------------------------------------ Phone : 33 1 41 34 01 34 - Fax : 33 1 47 57 46 34 - E-mail : emarchand@ketchum-pr.fr ------------------------------------------------------------ [ Next Thread | Previous Thread | Next Message | Previous Message ] |