Bank Millennium to deploy OneSpan’s technology to lower fraud threats

Bank Millennium has deployed OneSpan’s identity verification and e-signature technology to improve transaction security for customers.

The RegTech’s Cronto service secures transactions by empowering clients to check transaction details such as the amount and account number, before signing the transactions. It also stops trojan cyber threats, like man-in-the-browser or man-in-the-middle, by creating a secure connection between the device and the bank.

Bank Millennium, which is the Polish subsidiary of Banco Comercial Português, hopes the new integration will give customers a better and more secure experience.

OneSpan senior vice president of global sales, Dan Dica said, “Banks are more often considering the importance of customer experience across all banking channels, including corporate banking.

“Bank Millennium has chosen not only to address the needs of its customers but also to help future-proof the corporate banking process with OneSpan.”

The integration of the identity services was supported through PSD2, which improve the interactions of financial institutions and third parties.

OneSpan recently revealed similar partnerships with Volkswagen Bank and United Bulgarian Bank.

Earlier in the year, OneSpan also teamed up with core banking software developer Avaloq to improve anti-fraud capabilities for clients including HSBC, Royal Bank of Scotland, Deutsche Bank and Societe Generale.

Copyright © 2019 FinTech Global

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