CoCoNet launches its universal Global Security Provider solution for digital banking platforms

Banks can now take advantage of the advanced authentication and authorisation features of CoCoNet’s Global Security Provider (GSP) solution.

Providing security for applications and platforms

CoCoNet’s Global Security Provider (GSP) enables security for digital banking platforms and provides a better user experience to corporate customers.

GSP provides strong customer authentication (SCA) and authorisation for both established and new digital banking applications that do not have an inbuilt SCA. It also supports new banking services made possible by the Second Payment Services Directive (PSD2), such as multi-banking apps.

Banks benefit from incorporating GSP into their digital banking platforms in several important ways. GSP strengthens a bank’s defences against cyber-attacks and allows the bank to meet its obligation to provide SCA under PSD2. It also enables banks to provide seamless multi-level authorisation processes across multiple applications to its customers.

MULTIVERSA Mobile Token is a mobile app, which offers banks’ corporate customers a great user experience. The app supports biometrical methods of authentication and reduces banks’ costs since it uses the customer’s own device.

GSP supports two different off-the-shelf security solutions, which both deliver the highest level of protection against fraud. Banks can choose between the MULTIVERSA Mobile Token for smartphones and the token-based security software Digipass from OneSpan. Both solutions remove the need for banks’ corporate customers to have several different devices to sign in to several different applications. Also, they both facilitate the use of digital signatures to securely and user-friendly approve online transactions.

“Our Global Security Provider solution offers our banking customers a convenient and effective way to upgrade the security of their digital banking systems in response to PSD2 as well as other market developments,” said Björn Hassing, CEO at CoCoNet. “It also allows the harmonisation of different security methods to create seamless authentication and authorisation processes for digital banking platforms that have several integrated applications.”

 

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