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Two-factor authentication service provides money transfer security for TTT Moneycorp

CryptoCard : 06 November, 2009  (Application Story)
Global money transfer service provider provides Software-as-a-Service two factor authentication from CryptoCard to ensure financial transaction security
Enabling it to provide the highest levels of security for customer transactions carried out online and by phone, global money services provider, TTT Moneycorp has implemented Crypto-MAS, the award-winning two-factor authentication ((2FA)) hosted solution from Cryptocard.

"With Cryptocard's Passwords-as-a-Service (PaaS) solution in place, our customers can have complete confidence in the security of their finances, helping to underpin the key brand values of TTT Moneycorp's business," confirms director of support services, Thomas Kadri,

A key factor behind the choice of Crypto-MAS was its suitability to manage the significant quantity of 'customer not present' financial transactions that TTT Moneycorp processes on behalf of its customers, such as currency trading and large value cross-border transfers.

To meet this requirement, TTT Moneycorp has developed a customer solution offering transactions by phone and via an online portal. "This transaction solution required a system offering advanced levels of security to ensure those using the service are identified and authenticated and CRYPTO-MAS fitted the bill perfectly," says Kadri.

Crypto-MAS provided TTT Moneycorp with an instant, resilient authentication service. As Kadri explains, "The development and installation took minutes as opposed to days, which is especially impressive given our stringent standards. Having used (2FA) from various suppliers in the past, we have been very impressed with the technical capabilities and service Crypto-MAS promised and has delivered."

Neil Hollister, CEO and chairman, Cryptocard says: "TTT Moneycorp also enjoys the benefits of low total cost of ownership (TCO) with Crypto-MAS, as the hosted solution secures all network access points without the need for upfront investment, integration of expensive servers or ongoing support overhead."

Crypto-MAS gives TTT Moneycorp the flexibility to grow its business by bringing new users and services online quickly and efficiently. Cryptocard's proactive product development strategy also fits well with the positive, forward-thinking outlook of TTT Moneycorp and its IT development team.

"As a result, we are already considering new technology offerings from Cryptocard, including SMS capabilities and automation of user provisioning," confirms Kadri.

Cryptocard plans to build on the rapid success of Crypto-MAS with the recent launch of its aggressive swap-out campaign. The company's total cost of ownership (TCO) comparison White Paper demonstrates the dramatic savings of up to 60 per cent which can be achieved against server-based (2FA) solutions.

"At the same time, in taking away the hassle of having to replace an existing token estate on day one, our new Migration Agent service has made it easy to swap out a user's existing tokens to Crypto-MAS," confirms Hollister. "You don't have the expense or disruption of having to throw out your old server-based solution immediately, as with the new Cryptocard software you can run the two systems in parallel and phase it out over time."
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