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Vasco and Sumitomo Mitsui to create secure mobile banking app

Vasco Data Security, a global digital security specialist, has announced that Sumitomo Mitsui Banking Corporation (SMBC) will provide their online retail banking customers with a highly-secure mobile banking solution for their smartphones developed with Vasco’s Digipass for Apps.

mobile banking smartphone image

Vasco is working with Sumitomo Mitsui to provide m-banking apps

SMBC has experienced a rapid increase in the number of transactions conducted via smartphones. This is SMBC’s third major authentication solution – it first introduced a matrix-authentication OTP solution for SMBC Direct retail internet banking services. In 2013, SMBC implemented VASCO DIGIPASS 275 hardware authenticators for additional security. SMBC customers can choose either a hardware or phone-based software authenticator.

DIGIPASS for Apps is a library of security solutions for mobile applications that natively integrates application security, two-factor authentication and electronic signing, among other features into a bank’s mobile applications.

“For clarity of two-factor authentication, an application had to be provided separately from the existing banking application,” stated Hirohito Yokoyama, Head of System & Operation Development Group, Retail Marketing Department, Retail Banking Unit. “It was challenging, because separating applications may affect the customer’s usability. However, because of DIGIPASS for Apps, we were able to make both applications user-friendly with attention to details, using for instance, smooth app-to-app communications.”

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