Erste Bank Hungary integrates OneSpan into mobile banking
The Hungarian operations of Erste Bank has integrated OneSpan’s Mobile Security Suite into its mobile banking application.
Erste Bank Hungary, part of the Erste Group, has deployed the OneSpan system in its MobilBank app where it hopes the system will cover security for online and mobile transactions and aid in compliance with the second Payments Services Directive (PSD2).
The bank took up Mobile Security Suite’s Cronto tool to replace its bank’s SMS authentication with push notifications for login and transaction signing.
This new process, claims OneSpan, improves security and eliminates significant costs related to SMS delivery
Akos Andras Molnar, head of digital services at the banking group, says that OneSpan’s technology will help it maintain its position in the market “without compromising security of the customer experience.”
The Erste Group has 16.7 million clients with approximately 2,400 branches in seven countries (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia). The group has around €248 billion in assets under management.
Erste Bank Hungary is also a user of the ACI Worldwide’s UP portfolio of payment solutions, which it deployed in May 2018.
The suite includes UP Retail Payments, which provides real-time balance data across all banking channels.
Related: FinTech Futures webinar ft. OneSpan – addressing fraud through risk analytics