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News

Sleeve readers inconvenient for Abbey customers.

Gridsure : 27 March, 2008  (Technical Article)
As Abbey customers reject sleeve readers for additional online banking security, GrIDsure proposes alternative approach to highly secure e-banking.
Latest research from Abbey reveals that in a survey of 1000 customers, only 32 per cent of them wanted the proposed sleeve reader devices to protect them whilst banking or shopping online. In addition only 30 per cent welcomed more security questions despite fears over online safety.

With many banks scrambling to find the safest, most convenient and easy to use solution to help their customers combat fraud, particularly online - it is becoming ever clearer that the sleeve reader is not the answer.

"Chip and PIN has made a great impact on the high street due to its simplicity, sustainability and portability but customers are craving a system that is just as simple to use online," said Jonathan Craymer, chairman of GrIDsure, the developer of a revolutionary new approach to authentication.

"These new figures from Abbey highlight that customers fear for their financial security online but are not willing to compromise their online experience in order to be more secure. Clearly customers need an easy to use, yet more secure one-size-fits-all solution to use whether they are at a till point, online or ordering over the phone. Full credit to Abbey. The bank is clearly keen to understand its customers' security needs rather than force feed them a new unwanted and costly system, which as well as forcing customers to learn yet another new system, would only bring with it further management and support issues" continued Craymer.
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