Financial technology providers CREALOGIX, Entersekt, and Inventx offer a SaaS push notification-based authentication solution for digital banking

26 September 2018

The Swiss digital banking software provider CREALOGIX, in cooperation with Entersekt and Inventx, now offers financial institutions a new authentication option for mobile and desktop banking. The solution “pushTAN Authentication” makes authentication easier, safer and cheaper than before. The PSD2-compliant solution can be implemented with minimal effort and is available as a cloud solution.

Until recently, bank customers had to use either a TAN list on paper or an additional device such as a TAN generator for authentication. Increasingly this has been replaced by entering a transaction code that is sent to users via SMS message or in a separately installed mobile TAN app. Although more convenient,users of SMS or mobile TAN still have to switch between two separate apps – the mobile banking app that is requesting authentication, and the SMS or TAN app providing the code.

With the new CREALOGIX pushTAN Authentication solution, bank customers do not need to use a hardware device or leave the secure environment of their mobile banking app. Instead, they can authenticate themselves by confirming a pop-up message without leaving the mobile banking app.

Risk of data misuse is minimised

With the new pushTAN Authentication solution, the entire approval process takes place within the mobile banking app, which minimises the risk of data misuse. “pushTAN Authentication combines the highest level of security with a high degree of user-friendliness,” explains Marc-André Dumont, Head of Product Management at CREALOGIX. “This new security feature enables bank customers to authenticate themselves using their smartphone more easily than ever before.” pushTAN Authentication can be used with all CREALOGIX digital banking products – including when securely logging in to an account, making a bank transfer, and setting up a standing order – and it meets all PSD2 requirements.

Cost savings for financial institutions

Banks can use pushTAN Authentication as a plug-and-play solution with minimal implementation cost and adapt its design to match their branding. CREALOGIX offers this new feature in the form of a Software-as-a-Service (SaaS) solution. The highly secure basis of this solution comes from the South African fintech firm Entersekt, and the high-security data centre is provided by the Swiss bank IT service provider Inventx. Taken together, the technology and hosting of the service are designed to be suitable for the rigorous demands of secure, high-performance banking systems. Compared to an SMS-based authentication method, pushTAN Authentication also eliminates the costs of sending messages, which gives banks the freedom to avoid unpopular fees in a tough competitive environment and thus avoid customer attrition.



Media Contact

Stephan Reichhard, Carta agency

I am happy to arrange an interview appointment with the management team of CREALOGIX for you. Please call me on +49 6232 10011121 or send me an e-mail: reichhard@carta.eu

The economic projections and predictions contained in this information relate to future facts. Such projections and predictions are subject to risks, uncertainties and changes which cannot be foreseen and which are beyond the control of CREALOGIX Holding AG. CREALOGIX Holding AG is therefore not in a position to make any representations as to the accuracy of economic projections and predictions or their impact on the financial situation of CREALOGIX Holding AG or on the market in which CREALOGIX Holding AG shares and other securities are traded.
 

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