G+D Mobile Security and Samsung SDS present Convego® mobile authentication – a user-friendly and PSD2-compliant mobile authentication solution
Munich, February 22, 2018 – At this year`s Mobile World Congress in Barcelona (February 26 to March 1), G+D Mobile Security showcases a sophisticated mobile authentication solution, enabling banks and other financial institutions to implement strong biometric authentication for their mobile banking and payment services. The solution is powered by Samsung SDS Nexsign software. Nexsign is a FIDO (Fast Identity Online)-certified authentication solution with unique features for financial institutions that allows users to apply multiple biometric features such as fingerprint, face, and voice credentials for accessing mobile banking services. End customers benefit from a very simple authentication, as they no longer need to handle long and complex passwords.
The mobile channel has now become the most popular channel for accessing banking services, recently overtaking PCs and laptops. However, as customers turn to mobile, so do cyber criminals, forcing banks to adopt higher levels of security to combat these new forms of cyber attack. This is a challenge for banks at a time when customers are rejecting the use of complex passwords in favour of biometrics, which are now present on most smartphones.
Unsurprisingly therefore, security is one of the key objectives of the revised Payment Services Directive (PSD2), which mandates very strong and secure authentication for mobile electronic payment services. Specifically, PSD2 requires EU payment service providers to implement a combination of at least two independent identifying elements to authorize transactions (known as two-factor authentication). These elements can be a physical item (for example a card or a mobile phone) which is usually combined with a biometric element such as fingerprints.
The solution now being offered by G+D Mobile Security is fully compliant with PSD2 requirements and has a number of unique features that differentiates it from other solutions on the market, such as:
- support for multiple biometric options which can be selected by the bank to match their own unique risk profiles
- availability across both Android and iOS platforms
- leveraging the best available security - TEE & SE hardware security where available, with white box cryptography elsewhere
- support for screen blurring for secure document viewing
- a combination of the high usability of mobile biometrics with the end-to-end security of the FIDO challenge-response protocol
- the only solution available with both FIDO and Common Criteria certification
- global interoperability due to FIDO certification
“With G+D Mobile Security`s established presence in the financial market and a strong reputation for delivering mobile security solutions to banks, this partnership with Samsung SDS is very well placed to address the growing demand for stronger customer authentication and to fulfil the latest banking regulations,“ stated Gabrielle Bugat, Head of the Financial Services Solutions Division at G+D Mobile Security.
“With Samsung SDS’s strong reputation for technology and innovation, coupled with G+D’s solid pedigree in both mobile security and in financial services, we have a very powerful partnership capable of delivering a unique and very exciting solution that meets the needs of customers, banks and regulators alike” adds Jongcheel Im, President of Samsung SDS Europe.
This mature solution provides a quick set-up and time-to-market for financial institutions. Banks receive a software development kit (mobile phone client software) from G+D Mobile Security which can be incorporated into their existing banking applications. The bank also integrates a FIDO server into their back-end systems that provides a secure end-point for the authentication process. Bank customers then simply get their banking application updated from the app store and undergo a one-time registration process to activate the new mobile authentication solution.
About G+D Mobile Security
G+D Mobile Security is a global mobile security technology company headquartered in Munich, Germany. The company is part of the Giesecke+Devrient group. G+D Mobile Security has a workforce of 5,800 employees and generated sales of approximately EUR 860 m in the 2016 fiscal year. More than 50 sales and partner offices as well as 20+ certified production and personalization sites and data centers ensure customer proximity worldwide.
G+D Mobile Security manages and secures billions of digital identities throughout their entire life cycle. Our products and solutions are used by commercial banks, mobile network operators, car and mobile device manufacturers, business enterprises, transit authorities and health insurances and their customers every day to secure payment, communication and device-to-device interaction. G+D Mobile Security is a technology leader its markets and holds a strong competitive position.
About Samsung SDSE
Samsung SDS Europe (SDSE) is the European subsidiary of Samsung SDS, a global IT solutions company. SDSE provides purpose-built technology solutions in the areas of enterprise mobility, security, advanced analytic and mobile sales productivity. We enable our customers in the public sector, finance, retail, and other industries to achieve greater freedom, more operational efficiency, and smarter decision making as the driving force for their competitive advantage. SDSE is headquartered in Weybridge, UK, with offices in Schwalbach (Ts.), Germany, and Moscow, Russia.