Case Study
ASB - Netcode Security Solution
ASB is a leader in the New Zealand banking industry, priding itself on being ‘one step ahead’.
Internet banking two factor authentication
Internet fraud is a constant issue for banks. In November 2004, ASB was the first New Zealand bank to introduce two factor authentication for online transactions with Netcode. This innovative approach to online banking security uses a unique single-use code generated for delivery to the customer’s mobile phone. The code must be entered into FastNet Classic, ASB’s Internet banking website, before certain transactions can be completed. Following the implementation of this two-factor approach to Internet security, ASB customers, the media and industry watchdogs commented ASB led the New Zealand banking industry in taking steps to keep customers safe online.
How it works:
- The gateway is trusted by ASB and BankDirect to deliver second factor authentication text messages generated by RSA Security’s RSA Mobile solution.
- The two factor authentication solution can also integrate with other products such as Vascoe or custom “bank built” token-code generators, which ASB also utilizes for their Netcode service, for those customers who don’t have a mobile phone or prefer this solution.
