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Secure m-banking for HSBC Brazil customers

Vasco : 04 June, 2009  (Application Story)
Digipass for Mobile from Vasco is enabling Brazilian customers of HSBC to make use of mobile banking transactions securely
Vasco Data Security International has enabled HSBC Bank Brazil to roll out fully integrated m-banking services for its retail customer base thanks to Vasco's Digipass for Mobile.

Through HSBC Direct, it's recently launched virtual bank, HSBC Bank Brazil is the first bank to offer fully integrated m-banking services to its retail customers by using Digipass for Mobile, allowing them to withdraw cash from ATMs; conduct transactions; make money transfers & online payments and check their balance, loans & investment statements.

The bank innovated its customer authentication process to access the bank's online applications. From now on, HSBC Direct customers are identified through their social security number instead of their account number. This new method whereby the mobile phone is used as an authentication device enables customers to user their mobile phone to access HSBC's services through all channels (ATM, Phone Banking and Internet Banking) without needing to remember user name and password combinations.

Vasco's Digipass for Mobile requires no additional hardware as the authentication application is installed directly on the mobile phone, circumventing extra charges and cell phone coverage limitations.

Customers log on to the application with their social security number and a 6 digit PIN number created by the customer. The customer then has in his hands a safe password OTP generator. Once this password is verified by Vasco's Vacman authentication software, customers can access any HSBC Direct channel and are able to withdraw cash from an ATM, access Internet Banking or conduct any other transaction such as money transfers and online payments.

Vasco's technology also offers synchronisation between server and platform time taking daylight saving time changes into account. This means that Digipass for Mobile will continue to be fully operational when traveling through different time zones; turning it into a true mobile solution that can be used anywhere, anytime.

"Tackling Internet fraud is an ongoing battle," says Marcello Veronese, Head of HSBC Direct in Brazil. "HSBC Brazil is therefore committed to providing its customers with the highest level of security, without compromising on user-friendliness. By deploying an authentication solution based on social security numbers in combination with Digipass for Mobile, we are able to provide secure m-banking services in a convenient and cost effective manner. We strongly believe that mobile banking is the future and will become an innovative and important differentiator in an increasingly competitive financial sector."

Digipass for Mobile empowers financial institutions to quickly launch m-banking services to their customers in developed and emerging markets, creating a new convenient communication and transaction channel to and for end-users. Furthermore the software based authentication solution is very cost-efficient in roll-out and readily accepted by customers as it is integrated into a device that is well recognised by the end-user.

"Banks have recognised the strength of the mobile platform to offer additional services," says Jan Valcke, President and COO of Vasco Data Security. "Thanks to m-banking, banks can substantially increase their financial services outreach by using a multi-channel approach. Vasco has embraced this growing market trend by broadening the availability of its two-factor authentication technology for leading mobile solutions; offering our customers expanded security options and cost-savings opportunities.
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