BancoEstado picks Entrust solutions for identity and card issuance
BancoEstado has gone live with solutions from Entrust for identity and card issuance.
The Chile-based bank has adopted the US provider’s cloud-based digital banking authentication and instant debit card issuance solutions.
Eduardo Concha Concha, manager of technological architecture and core development at BancoEstado, says: “Adopting mobile and online customer authentication allows us to provide frictionless and secure access to our digital banking services, and offering new contactless chip-enabled debit cards in branch helps us fill our customers’ needs quickly.”
BancoEstado is one of the largest banks in the country, with more than 14 million customers across 500 branches. On average, the bank issues between 20,000 and 24,000 financial cards per day, with more than 10 million users on its mobile app.
There was an existing relationship between the bank and supplier. BancoEstado made the decision in late 2019 to migrate 6.5 million mobile banking customers from its existing on-premises Entrust authentication solution to Entrust Identity as a Service (IDaaS).
Concha says the bank has a focus on financial inclusion and digitalisation. “Entrust has helped us deploy technologies that better position us to meet these goals in two key areas – mobile and online banking services and instant card issuance.”