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May 14, 2009

Vasco, MoadBus partner to deliver digital signature for m-banking services

To protect customers from password theft, unauthorized account access and man-in-the-middle attacks

By CBR Staff Writer

Vasco Data Security International and MoadBus, a developer of mobile payment solutions, have joined forces to deliver digital signature on mobile banking and mobile cash solutions to joint customers.

According to Vasco, the partnership is based on the flexibility of its Digipass API offering that allows solution providers to transparently embed strong authentication and e-signature functionalities into mobile banking applications while maintaining existing backend infrastructure.

Vasco has said that joint banking customers will be offered a user-friendly security system to protect them from password theft, unauthorized account access, and man-in-the-middle attacks. The end user’s mobile phone will become their authentication device for all their mobile banking and mobile cash transactions.

Vasco claims that existing MoadBus customers will be offered the possibility to add Digipass authentication and digital signature to their applications. While current Vasco customers will be able to further build upon their investments when adding mobile banking capabilities to their service offering.

Amarnath Nanduri, COO at MoadBus, said: Vasco’s leadership in strong authentication, especially in the financial sector makes them the best partner we can team up with to secure mobile banking solutions for our customers.

Jan Valcke, president and COO at Vasco Data Security, said: MoadBus has developed a solid reputation in the delivery of m-banking and m-cash solutions, especially in the US and Asia. We are convinced that by teaming up with them, we can grow the market for secure mobile banking.

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