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Sweden Banks on e-Security

Published 29 July 2009 | By VASCO

SEB is one of the major commercial banks in Sweden - a technologically sophisticated market in which competitive advantage is achieved through innovation and the provision of high-quality customer care programmes.

The bank offers a range of real-time internet banking services including bill payment, balance and transaction information, transfers, stock trading and portfolio management. To minimise risk and maintain customer loyalty and confidence, SEB needed a robust and easy-to-use security technology that did not require users to buy new software. VASCO's DIGIPASS challenge-response authentication devices proved to be the ideal solution.

 

Objective

To provide secure customer access to a range of internet-based banking services.

 

Challenge

In a market where consumers are well-informed and technologically savvy, SEB sought to deepen client loyalty and enhance the bank's reputation for innovative customer care. It needed a security solution that could grow to meet the expected rise in internet usage and fulfil user expectations for secure online banking services.

 

The solution

The bank selected a two-factor challenge-response authentication system using VASCO DIGIPASS. Because the easy-to-use tokens had been successfully implemented with SEB's tele-banking service, SEB was able to shorten development, testing and delivery time while saving money. The online customer service program quickly provided the security and peace of mind SEB clients needed.

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