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According to Access One projection 68 million people will use Online Banking in 2005 in Europe. For that reason it’s interesting to see what kind of security is used by online banks in Europe at the moment and what they are spending on Online Authentication according to Celent Communication in 2004.

The Netherlands (4.9 million internetbankers) and Sweden are considered to be leading the usage in Online Banking according to Forrester Research and one fifth (20%) of Europeans is considered banking online at this moment. In order to attract more online banking customers and keep the existing ones, banks must change many consumers’ belief that online banking isn’t safe, according to a report published by technology market analysis firm Forrester Research. 'Consumers’ deep-seated security fears remain amongst the biggest barriers to online banking use in Europe, particularly in countries such as Italy, France and the UK, where two-factor online banking authentication is rare or unknown.

ID Control focusses on offering affordable and easy-to-use Strong Authentication Solutions in the E-Finance environment and offers PKI compliant Hardware USB Tokens, HandyID, MessageID and KeystrokeID for secure access and secure digital signing of transactions. When E-Finance needs and demands require the highest security norms of the Authentication industry, ID Control can add a Hardware Security Module as extremely secure authentication functionality. The HSM continuously manages the ingredients of the OTP which which when used in conjunction with HandyID and MessageID provides a highly secure and strong authenticated environment.

Should you have any questions regarding Authentication Form Factors in Online Banking, please do not hesitate to contact us!

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