Illinois-based VASCO Data Security International is providing HSBC Bank Brazil with services like VASCO’s DIGIPASS for Mobile(R) and social security number for this purpose. By using DIGIPASS for Mobile, retail customers can conduct transactions such as money transfers & online payments and check their balance, loans & investment statements. It requires no additional hardware as the authentication application is installed directly on the mobile phone, circumventing extra charges and cell phone coverage limitations.
Customers can log on to the application with their social security number and a 6 digit PIN number created by themselves and get a safe password OTP generator. Once this password is verified by VACMAN(R) authentication software, they can access any HSBC Direct channel.
Marcello Veronese, Head of HSBC Direct in Brazil, said: “Tackling Internet fraud is an ongoing battle. 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.
