Jun 21, 2018

Within the framework of its new statue, the European Central Bank (ECB) Finanz-Tran recommends that financial transactions should be secured with a two-factor authentication. This presents a challenge to financial service providers to find a solution that is acceptable for their customers but cost efficient as well.

In most cases, the added value, the so-called business case, is disregarded. Many banks decide for the simple variant. The easiest solution meets the ECB guidelines in the short term, which however does not provide any simplification nor any added value.

KOBIL is offering a real solution to this challenge, which is user-friendly, with no transaction charge, and highly secure in addition to providing options for new business processes.

Our three solution packages are;

Basic Solution

Complementary procedure SMS TAN

Transaction cost-free, secured communication extendable by new message functions, and no external server.

Comfort Solution

A two-device solution, with confirmation amenity.

A physical secondary device, two device security level, transaction cost-free, no manual entry – no media interruption, and no external server.

Premium Solution

Virtual two device solution, two-channel security level, with confirmation amenity

One device solution, two-channel security level, transaction cost-free, no manual entry of transaction codes, and no external server.

Implementation Examples:

Bank-Verlag GmbH (Basic Solution)
The so-called BV appTAN procedure sends the TAN through a secure, end-to-end encrypted channel to an app on the mobile device of the customer. This way the user, as well as the mobile device, can clearly be identified to the bank.

Migros Bank AG (Comfort Solution)
The Swiss bankers consider the security solution of their future e-banking service to be secure as it is based on two components: a highly secured app on the smartphone, tablet or pc of the users and a security server in the bank, that, following diverse checks, provides the app with a one-time password, granting access to the banking application itself.

ING-DiBa (Premium Solution)
In addition to the actual mobile banking app of ING-Diba a secondary app provided by KOBIL (SmartSecure App) establishes an additional, secured channel as well as a secondary, virtual device. Thus, the Bank is meeting the security requirements of the Committee of European Banking Supervisors (CEBS), without the need for the customer to authorize his mobile transactions on a secondary physical device.