Security specialists OneSpan has announced that Erste Bank Hungary, a subsidiary of Erste Group Bank AG, one of the leading banks in Central and Eastern Europe, has integrated OneSpan’s Mobile Security Suite into its banking app MobilBank.
The collaboration seeks to place a close focus on protecting and securing both online and mobile payments, whilst ensuring compliance with PSD2 requirements for authentication and dynamic linking.
Erste Bank Head of Digital Services, Akos Andras Molnar commented: “OneSpan’s proven technology will help us maintain our leading position in the market without compromising on security or the customer experience.
“As part of this roll-out, our customers can also make online purchases using push notification with any retailer connecting to Erste Bank via the 3-D Secure protocol.”
It comes as the European Payment Council underlined that social engineering attacks continue to increase and remain instrumental in fraud schemes, often in combination with malware. It means that Erste Bank Hungary can combat this threat with OneSpan’s technology, which enables banks to integrate application shielding, biometric authentication and transaction signing.
“Criminal hackers continue to target banking customers as social engineering remains a preferred technique,” added OneSpan CEO, Scott Clements. “In their search for security solutions, banks need to consider cost, convenience and regulatory compliance. OneSpan’s technologies address these concerns so that banks can focus on providing a secure and convenient customer experience.”