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Online & Mobile Banking

Volkswagen Bank employs OneSpan mobile application security

Wednesday 4 September 2019 | 10:34 AM CET

OneSpan has announced that Volkswagen Bank has implemented its mobile application security to protect the bank’s financial transactions and help ensure PSD2 compliance.

OneSpan used its mobile SDK, Mobile Security Suite, to develop and protect PhotoTAN-App, a standalone mobile authentication app solely for Volkswagen Bank. PhotoTAN-App communicates directly with Volkswagen Bank’s mobile banking app and is used to sign transactions initiated either online or via a mobile device. The app also integrates Mobile Security Suite to enable app security including biometric authentication, application shielding and Cronto technology.

OneSpan’s Cronto solution enables the bank to comply with the PSD2 authentication and dynamic linking requirements. This patented visual transaction signing solution does so using a graphical cryptogram made of colored dots to encrypt transaction details, which can only be read by a trusted device. The solution helps banks counter account takeover as well as banking Trojans such as man-in-the-browser attacks by establishing a secure connection between the device and the bank.

More: Link
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