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updated: 11/14/2011 10:48 AM

Portugal bank implements VASCO online security system

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OAKBROOK TERRACE -- VASCO Data Security International said Caixa Geral de Depositos has implemented VASCO's DIGIPASS technology to secure its online banking customers.

Caixa Geral de Depositos is a Portuguese bank owned by the State of Portugal. In France, CGD consists of 46 branches with both private as small and medium enterprises, mainly from Portuguese origin. CGD wanted to implement a strong authentication solution compliant with the regulations issued by Banque de France. The solution had to respond to the 3D Secure protocol which is designed to add an extra layer of security for online credit and debit card transactions without compromising on user-friendliness and convenience for online banking customers. The 3D Secure protocol is designed to be able to confirm your identity before any transaction is made. Only if the identification has a positive outcome, you can proceed with the online payment.

CGD decided to implement VASCO's DIGIPASS GO 6 and DIGIPASS 260. DIGIPASS GO 6 is a very straightforward solution to generate one-time passwords at the push of a button and the ideal solution for online banking. The bank also deployed DIGIPASS 260, a PIN pad protected e-signature device that adds an extra layer of security for more sensitive transactions. Both devices are very intuitive in use and have been easily adopted by CGD's clients.

"VASCO DIGIPASS resulted to be a secure and easy-to-deploy solution, the implementation was completed in less than six months," declares Jose Pires, Assistant Director of CGD. "We are very happy with the VASCO strong authentication solution. Not only is it compliant with the regulations, it has essentially reduced the losses due to fraud."

"We are glad to see that CGD has readily adopted our strong authentication solution. From the beginning, we were committed to meet their strong authentication needs and at the same time to provide them with a secure and easy-to-use solution which was promptly adopted by its clients," says Jan Valcke, President and COO of VASCO Data Security.

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