Nov 20, 2013

The renowned producer of IT security products offers new trend-setting e-Banking authentication procedure

Worms / Lenzburg, 20. November 2013. KOBIL Systems, a market leading trendsetter in the production of innovative technologies in the data and digital identity sector, has concluded an interface agreement with Finnova AG. The basis for this is the innovative and modular platform technology “Application Security Technology (AST)” for increasing customer security in all alternative channels such as ePayment, eBanking, secure messaging and Cloud services.

KOBIL has established the partnership as part of the current AST project with the Swiss Migros Bank. The bank can thus profit from a cost-effective, modern and future-proof authentication and transaction signature solution. AST optimises the processes and makes documents and communication binding. This allows the banks to set up new business models such as couponing or Cloud services.

“We are very proud of this collaboration and are looking forward to many years of successful and satisfying teamwork because the technologies of our two companies complement each other and offer banks genuine added value”, says CEO Ismet Koyun. Christoph Erb, Finnova AG’s Chief of Customer Care, adds: “With KOBIL Systems, Finnova AG is gaining another strong partner in e-Banking Authentication. The existing pallet is thus being expanded to include additional trendsetting technologies.”

AST automatically implements most of the security processes and thus offers the end user a maximum level of convenience. Along with the 2-factor authentication, the AST solution uses a software security system to secure the bank’s websites and mobile applications. This even prevents customers from being exposed to cyber-attacks during the development of transactions on public PCs and Smartphones without Firewall. The KOBIL solution, which was developed for operation on all platforms and devices including iPhones, iPads, Android and PCs with Windows 8, ensures security, eliminates possible concerns on the part of the users and, thanks to increased customer satisfaction, offers a tremendous advantage. The solution used a secure remote update function to develop a defence mechanism against future threats.

About Finnova AG
Established in 1974, Finnova AG is the leading Swiss producer of banking software. The Lenzburg software house employs around 350 workers at various locations. Its standard “Finnova” solution is currently being used in around 80 universal and 20 private banks in Switzerland and abroad. They profit from the wide range and depth of the functions at the lowest comparable TCO in the industry. Finnova’s distinctive scaling and configuration capacity allows strategic banking requirements to be efficiently fulfilled with quick implementation at reasonable costs. With Finnova OPAL®, the software meets the requirements for service-oriented architecture in all sectors. Together with extensive BPO options, this concept enables the mapping and support of various process and business models. At the same time, the full multi-client capability of the standard solution allows more than 50 banks to be operated at one central installation.