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Digital Identity, Security & Online Fraud

SpareBank 1 collaborates with Nets to add Risk-Based Authentication

Monday 9 January 2017 | 02:26 PM CET

The SpareBank 1 Alliance has expanded its cooperation with Nets on 3D Secure to include Risk-Based Authentication (RBA).

This solution enables online shopping for SpareBank 1’s personal customers without compromising on security. The authentication solution that SpareBank 1 will offer its cardholders is based on a number of predefined parameters and criteria, with the result that customers can often complete an online transaction without additional authentication. 

Risk-Based Authentication is used in combination with BankID and BankID mobile, already familiar to customers. RBA will help to boost online sales by making things much more straightforward for consumers without compromising on security.

DNB has been using this solution for about a year, while the Sparebank 1 Alliance has recently resolved to introduce the service.

Nets provides the 3D Secure service for many banks in the Nordic region, including the largest three Norwegian banks. The service ensures that the cardholder and the store are able to complete transactions securely during online shopping. Using 3D Secure protects the cardholder from online fraud while ensuring/guaranteeing settlement of the transaction for the store.

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