Available free of charge to its UK internet
banking customers, Barclays Bank’s two factor smart card
authentication reader PINsentry has proved a big success in terms
of customer acceptance and performance.
banking customers, Barclays Bank’s two factor smart card
authentication reader PINsentry has proved a big success in terms
of customer acceptance and performance.
Indeed, since its introduction customer
acceptance of PINsentry has exceeded Barclays’ own expectations. In
the 12 months since its launch in July 2007 more than 1 million of
the handheld PINsentry devices have been deployed, an uptake
representing half of the bank’s online customers and 30 percent
higher than original expectations.
acceptance of PINsentry has exceeded Barclays’ own expectations. In
the 12 months since its launch in July 2007 more than 1 million of
the handheld PINsentry devices have been deployed, an uptake
representing half of the bank’s online customers and 30 percent
higher than original expectations.
“Our goal was to provide our online customers
with an easy to use, highly secure product to protect them against
fraud,” commented Barclays’ director of digital banking, Sean
Gilchrist. “Adoption of the PINsentry reader by one million
cardholders in one year is a clear demonstration that we made the
right choice.”
with an easy to use, highly secure product to protect them against
fraud,” commented Barclays’ director of digital banking, Sean
Gilchrist. “Adoption of the PINsentry reader by one million
cardholders in one year is a clear demonstration that we made the
right choice.”
As significant, since its introduction not one
online customer using PINsentry has suffered fraud, according to
the device’s developer Netherlands payments technology vendor
Gemalto.
online customer using PINsentry has suffered fraud, according to
the device’s developer Netherlands payments technology vendor
Gemalto.
To use PINsentry customers insert their bank
card into the device’s reader and type in their card PIN code to
generate a one-use password at log on. In addition the device
enables users to electronically sign transactions. In recognition
of Barclays’ PINsentry programme the bank was this year’s recipient
of the Best Security Initiative award presented in Nominet UK’s
Best Practice Challenge. Nominet UK is the national registry for
all internet domain names ending in .uk.
card into the device’s reader and type in their card PIN code to
generate a one-use password at log on. In addition the device
enables users to electronically sign transactions. In recognition
of Barclays’ PINsentry programme the bank was this year’s recipient
of the Best Security Initiative award presented in Nominet UK’s
Best Practice Challenge. Nominet UK is the national registry for
all internet domain names ending in .uk.
According to Nominet UK its annual competition
“recognises organisations, groups or individuals who have embraced
the challenge of delivering a safer, more accessible or diverse
Internet experience.” In presenting the award to Barclays the
competition judges commended the bank “for addressing a real
problem in gaining and building trust in online financial
services”.
“recognises organisations, groups or individuals who have embraced
the challenge of delivering a safer, more accessible or diverse
Internet experience.” In presenting the award to Barclays the
competition judges commended the bank “for addressing a real
problem in gaining and building trust in online financial
services”.
The PINsentry security solution has recently
been extended to Barclays’ internet banking services in Turkey and
those of its South African banking subsidiary, ABSA.
been extended to Barclays’ internet banking services in Turkey and
those of its South African banking subsidiary, ABSA.
Adding further weight to its online security
drive Barclays has become the first UK bank to offer free
comprehensive internet security software to its internet banking
customers. For the service Barclays has awarded a two-year contract
to Russian internet security company Kaspersky Lab, who will supply
software that can be downloaded from Barclays’ website.
drive Barclays has become the first UK bank to offer free
comprehensive internet security software to its internet banking
customers. For the service Barclays has awarded a two-year contract
to Russian internet security company Kaspersky Lab, who will supply
software that can be downloaded from Barclays’ website.
The software, which provides protection against
viruses, adware, spyware and incorporates firewalls, parental
controls and spam filters, normally retails at £51 ($80) and
represents an enhancement of the free anti-virus software service
Barclays has offered to customers for the past two years.
viruses, adware, spyware and incorporates firewalls, parental
controls and spam filters, normally retails at £51 ($80) and
represents an enhancement of the free anti-virus software service
Barclays has offered to customers for the past two years.
“Kaspersky has one of the best reputations in
the business and together with PINsentry we believe Barclays online
customers will have one of the best security packages of all online
banks,” said Gilchrist.
the business and together with PINsentry we believe Barclays online
customers will have one of the best security packages of all online
banks,” said Gilchrist.
According to Barclays its overall online
security initiatives resulted in a dramatic 91 per cent drop in the
money lost to fraudsters from 2006 to 2007. In addition Barclays is
the only UK bank to have seen a reduction in the number of phishing
attacks.
security initiatives resulted in a dramatic 91 per cent drop in the
money lost to fraudsters from 2006 to 2007. In addition Barclays is
the only UK bank to have seen a reduction in the number of phishing
attacks.
As part of its internet banking security
programme, Barclays is now offering additional services to its
online customers. Among these the maximum amount for personal
online transactions has risen from an initial £1,000 to £10,000 and
plans are in place to offer international payment for the purpose
of funds transfer worldwide in the near future.
programme, Barclays is now offering additional services to its
online customers. Among these the maximum amount for personal
online transactions has risen from an initial £1,000 to £10,000 and
plans are in place to offer international payment for the purpose
of funds transfer worldwide in the near future.
