Over half a million customers will be automatically sent free PINsentry card readers created by digital security specialist Gemalto by the end of 2007. The devices will be issued to Barclays customers, including business customers, who use their online bank account to set up payments to new third-party accounts.
The card readers will be used together with the customer’s normal chip and PIN debit card to authenticate their identity at log in and for making certain payments. This will replace the need for passcodes and memorable words.
Barclays is constantly working to help protect customers and their money and that is why we have invested in this system, commented Barnaby Davis, director for electronic banking at Barclays. PINsentry is the next generation of fraud prevention technology and Barclays is proud to be the first organization in the UK to roll it out to its customers.
This move represents the latest in a series of initiatives by Barclays to increase security for its online banking customers. In 2006, it began offering free anti-virus software, as well as an SMS text message confirmation service to internet banking customers. As a result, the bank won the Anti-Fraud Strategy of the Year award at the 2007 Financial Sector Technology Awards.
