Banco Santander Secures 300,000 More Customers with Entrust IdentityGuard

13 November 2007

A year ago, the Chilean subsidiary of Banco Santander faced a challenge familiar to many financial institutions: the protection of their online customer base via strong authentication. Their choice to partner with Entrust, Inc. [NASDAQ: ENTU] and deploy the Entrust IdentityGuard versatile authentication platform — a key component of a layered security approach — was extremely successful; so much so, in fact, that the financial institution announced the solution has expanded to secure an additional 300,000 users.

"With its diverse options and easy-to-use authenticators, Entrust IdentityGuard was the very best choice to secure our Web portals and protect our customers," said Banco Santander Internet manager Laureano Cuesta. "In fact, it was so successful we did not hesitate to deploy the solution to another 300,000 customers. We had complete confidence that Entrust IdentityGuard would handle the expansion with ease and that Entrust support would be readily available to address any of our questions."

Part of the Santander Group, one of the largest financial groups in the world, Banco Santander originally considered one-time-passcode (OTP) hardware tokens, which would have been much more expensive for their customers. The grid card, which was the authenticator Banco Santander opted to implement, was the perfect choice.

"Banco Santander should be commended for taking a proactive approach to protect consumers online by implementing the right authentication solution — grid cards, in this case — to address the needs of their customers," said Entrust Chairman, President and Chief Executive Officer Bill Conner. "Part of a layered security approach, Entrust IdentityGuard provides Banco Santander with the ability to bolster online security and tailor authentication according to the risk of their customers’ transactions."

During implementation a year ago, Banco Santander branded the Entrust IdentityGuard grid card as "Super Clave". Prior to deploying Entrust IdentityGuard, the bank used password-based two-factor authentication, but now can leverage stronger authentication to protect the integrity of transactions, such as money transfers.

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