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Secure Transactions News

Gemalto becomes leader in e-banking security

Thursday 15 April 2010

Headquartered in Gothenburg, Sweden, and employing 80 people worldwide, Todos is a major provider of strong authentication solutions for internet banking. Todos has to date delivered in excess of 20 million products to over 100 financial institutions in more than 30 countries. Todos core offer is the eCode Suite, including the Todos Versatile Authentication Server, which enables strong authentication and transaction verification. The Versatile Authentication Server supports industry standards and is augmented by patented technology such as Dynamic Signatures. Using their EMV card and a Todos’ eCode reader, consumers can use their PIN code to securely sign internet banking transactions. An additional layer of security can be provided by displaying transaction details on the reader, so that users “sign what they see”, thwarting in particular “man in the browser” attacks. Over the coming months Todos will be integrated with Gemalto’s Identification and Access Management business line. Todos recently launched a series of new readers, and a solution allowing the generation of a One Time Password on a smart card (cf. SIW #10-09). Todos set up a partnership with Oberthur technologies last November (cf. SIW #09)48)

Most analysts agree that a few months ago, major players in the field of eBanking security were Vasco Data Security, Xiring, Todos and Gemalto. The smart card industry leader acquired Xiring banking activities at the end of 2009 for EUR 20 million, and now acquire Todos. With the combination of Gemalto, Xiring and Todos offers, Gemalto is undoubtedly the global leader on eBanking solutions. However, just like in any case of technology combination, one may anticipate Gemalto will need some time to combine its product ranges from different sources, and ensure compatibility within what is now its product range.

More globally, Gemalto is currently building its global offer in remote transaction security through acquisitions: Gemalto acquired Trusted Logic last September, bringing in the company its expertise in secure software for personal portable devices (cf. SIW #09-38), and also Valimo Wireless in February 2010, bringing mobile phone-based strong authentication and digital signatures (cf. SIW #10-06). Thanks to these acquisitions, Gemalto is now able to provide one-time-password tools either with connected and unconnected devices (Gemalto, Xiring, Todos) or with OTP generation on a handset (Trusted Logic). With this skills combination, Gemalto also proposes mobile identity, and mobile signature (Valimo).