Irish Life & Permanent (IL&P) financial service provider has selected Cryptomathic’s two-factor authentication solution to protect its customers against remote banking threats.
The Cryptomathic Authenticator was chosen because of its ability to integrate into the bank’s existing back-end infrastructure by operating as a standalone service. Additionally, the solution can interface with the IL&P’s two distinct internal systems: Open24 internet banking platform and GTX telephone banking system.
Thus far IL&P has undertaken a mobile banking strategy with the implementation of one-time-passwords (OTP). The mobile phone eliminates the need for hardware tokens and delivers OTPs to the customer “out-of-band” as opposed to an existing user interface network like an internet banking application. The Cryptomathic’s Authenticator is being deployed at two of its data centers, in hopes of providing the same security at standby systems.