Safeguard Proves Popular

Safeguard Proves Popular

Only 10 days ago, PSIS, one of New Zealand’s longest-serving financial organisations, successfully launched the RSA SecurID® solution to safeguard its Internet banking customers with strong, two factor authentication.

How it Works

The customer’s identity is verified in two ways; using something the user knows (a password) and something the user has (a SafeKey hardware token). The token – small enough to put on a key ring – has an LCD display that displays a new, unpredictable code every 60 seconds. The user combines this randomly generated number with his or her user name and password to log into their account via the PSIS Internet banking site.

Customer Results
SafeKey has proved popular with customers and staff in the first ten days since launch. So far 12% of PSIS’s active Internet Banking customer base have adopted the technology and the strong level of demand continues.

“This is all beyond our expectation” says Mark Wilcox, Manager – Risk & Finance Projects of PSIS. “With e-fraud on the rise, it is exciting to offer our customer base a stronger level of security for their online banking. The tremendous response underlines the importance and demand of such a product.”

Ends

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