AIB rolling out digital card readers with ‘one time’ passwords

7 Jun 2011249 Views

AIB has signed a deal with global digital security player Gemalto to roll out EMV card readers to online banking customers and enhance a user’s protection when online banking and making internet transactions.

As part of a multi-year contract, Gemalto is delivering the complete, future-proof Ezio solution, including strong authentication software, Ezio Club EMV card readers, as well as consulting services.

The driver behind the upgrade is to further develop AIB’s online offering with new and enhanced financial services for the benefit of customers.

“Simplicity and convenience for our customers were determining factors in our selection of Gemalto’s solution,” said Diarmuid Hanrahan, head of Payments and eChannel Development, AIB.

Support Silicon Republic

“The Ezio solution flexibility enables us to evolve our e-banking security strategy over time with multiple, strong authentication devices.

One-time password generation

In addition to generating one-time passwords, the Ezio Club reader is used to verify and sign transaction details, such as amount transferred and account credited.

This added layer of ”sign-what-you-see” security ensures the authenticity of the internet banking session, while enhancing a user’s protection.

“More than 50m online banking customers worldwide use and trust Gemalto’s Ezio technology and we are leveraging this experience to support AIB’s project,” added Philippe Regniers, senior vice-president, Gemalto.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years

editorial@siliconrepublic.com