Creating connectivity and trust

Strong customer relationships and secure transactions – PushTAN and Smart Alerts combine security and ease of use

The message is strong: communication is the key to long-term successful partnerships. Although this is certainly good advice, the reality is more complex. If communication were the only thing that mattered, the endless flood of opinion in the social media would have made the Nobel Peace Prize superfluous long ago and we would all be living on an island of the blessed.

Our most important human relationships, however, are not based on a mere exchange of words or signs, but on a deep sense of connectedness. And this element – connectedness – is far more puzzling and difficult to grasp than the advice magazines and self-help books suggest. In any case, simply spending time together is not enough. Mutual trust and a feeling of togetherness are essential.

So, why are CREALOGIX and Entersekt concentrating on this topic? Because it relates directly to the topic of: Mobile technology and how it contributes to establishing trust and solidarity.

More than a decade ago, we founded Entersekt because we were convinced that mobile technology would become much more than just a communication tool. We saw mobile technology as a catalyst for a transformation that would enable all people – from Swiss entrepreneurs to Kenyan farmers – to organize ever-larger parts of their lives themselves. Under their own conditions and independent of time and place.

In the meantime, mobile devices have become an indispensable part of our everyday lives. They are important to us, we take care of them and usually wear them close to our bodies. The fact that the vast majority of people do not share their mobile phones with other people also points to a special status of these devices.

A connection between like-minded people

As you probably already know, CREALOGIX recently introduced pushTAN authentication, a new method for protecting mobile and online banking. You may also have heard that the functionality is based on a product from Entersekt. CREALOGIX and Entersekt have been working together successfully for years, so the use of our technology by CREALOGIX is no surprise in itself. However, the integration of our Software Development Kit (SDK) into CREALOGIX’s Mobile Application Platform (MAP) is new.

MAP bundles a growing number of services that we and other third-party providers provide. Institutional customers of CREALOGIX can thus adapt their own apps and the application experience precisely to the needs of consumers. At the same time, they guarantee state-of-the-art security.

Convenient authentication via pushTAN

Like all other MAP services, pushTAN authentication can be implemented quickly and easily. There is clear evidence that this method is more user-friendly, secure, and cost-effective than the mTAN solution (also known as SMS-TAN) commonly used today.

SMS-based authentication is not user-friendly and does not provide adequate protection against cybercriminals who are conducting increasingly sophisticated phishing attacks and exploiting vulnerabilities.

Entersekt was the first company in the world to consistently rely on the increased computing capacity of smartphones to develop a much more robust authentication system based on digital certificate technology. An out-of-band and end-to-end communication channel for the exchange of sensitive data is established between the user’s mobile device and the financial institution’s back-end systems.

The fully interactive solution allows customers to verify their online and mobile banking logins and transactions by simply completing a fingertip request in the banking app.

This 50-second video shows you exactly how this works.

 

Unlike using mTANs, users don’t have to switch between apps. This means greater usability and security.

We believe that the customer’s short, direct involvement in protecting their account contributes to a sense of competence and shared responsibility.

Secure customer messaging with Smart Alerts

Back to the key question: How do you connect with your customers without talking to them? How do you establish and maintain trusted customer relationships in an environment full of competitive offerings, new digital application experiences, and countless cyber threats?

Modern technologies undoubtedly make it easier for us to communicate, but at the same time we’re finding it increasingly difficult to focus on what’s really important. Regulations such as DSGVO, MiFID II and PSD2 are multiplying the number of alarms, prompts and messages that consumers receive. Under MiFID II, for example, banks must be able to prove that customers have received their messages.

For this reason, Entersekt was commissioned by CREALOGIX to develop Smart Alerts. This is a compliance-compliant messaging service with which banks can send important notifications to their customers’ mobile banking apps – in real time, fully encrypted during transmission and securely stored within the app. A digital signature is generated and returned to confirm receipt of the message on the device. Customers do not necessarily have to reply to their bank, but can be directed to a specific app function to perform a required action.

You will hear more about this exciting new development from CREALOGIX in the near future. If you would like to learn more about Entersekt’s unique technology approach and our alliance with CREALOGIX, I look forward to meeting you at the CREALOGIX Digital Banking Days 2018 (Frankfurt, 24 to 25 October). It’s best to get your ticket now.

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