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News

Corporate card security for Nordea

Todos Data System AB : 04 December, 2009  (Application Story)
Nordea's card division has chosen to protect its customers from identity theft and man-in-the-middle attacks with smart card authentication readers from Todos
Companies increasingly use credit cards for corporate purchasing, employee expenses and cost control. However, they are at risk from identity thieves, man-in-the-middle attacks, breaches in SSL encryption and plain old-fashioned fraud. Because they have higher credit limits than most consumer cards they are particularly prized by online criminals.

This explains why card issuers are showing increasing interest in enhanced security for corporate cards. For example, they can use systems such as Verified by Visa or Mastercard SecureCode to insist on two-factor authentication using smart card readers.

A recent sales success by Todos illustrates the trend. First Card is Nordea's card division for business customers. They have recently ordered 30,000 Todos C200 card readers for their customers in Denmark and Norway. They already have 150,000 devices for their Swedish clients.

Using card readers is more secure than using a static password alone because it makes it much harder for online criminals to impersonate real bank customers. Thanks to advanced Todos features including Dynamic Signatures and Secure Domain Separation, Nordea gains additional security compared to other devices from other vendors.

'Although there is a lot of attention on consumer card fraud, and rightly so, but banks should not overlook the security of their corporate customers,' says Ulf Dahlberg, Sales Director Nordic Region at Todos. 'With Todos, banks can reassure their most important customers and offer them devices that are easy to use, trustworthy and flexible.'
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