Bank of Ireland receives award for its pioneering efforts in infosec.
Global Finance has recognised Bank of Ireland (BOI) for its commitment to business information security.
The win was based on the bank’s introduction of several security initiatives and channel enhancements on its platform for corporate customers, Business On Line.
One security innovation BOI is due to roll out is KeyCode, which will replace the existing security features on Business On Line with a more streamlined process.
A secure mobile authentication app, KeyCode generates unique single use codes that can be used for payee authentication, logging on, and authorisation of payments. It will be available on all major smart mobile devices (including smartphone, tablet and iPod touch), and users can authorise payments from multiple locations. Customers will no longer be restricted to a specific desktop/laptop to perform their essential business transactions.
Combining high security with ease of use, KeyCode aims to offer a more convenient customer experience.
“Bank of Ireland is committed to providing best in class when it comes to online security, and to have this recognised by Global Finance is a great endorsement. We will continually adapt and invest in our technology to ensure that we offer a service to our business and corporate customers that they can have confidence in,” said Neil Kelly, head of business digital at BOI.
Award recipients were chosen based on criteria including strength of strategy, web/mobile design and functionality, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and growth of digital customers. A panel of expert industry analysts, technology specialists and corporate executives was also consulted by Global Finance during the judging process.
This short video explains exactly how KeyCode operates.