Online fraud schemes become increasingly sophisticated. Accordingly, banks and financial organizations worldwide have adopted defense mechanisms to mitigate risks and secure their customers from forgery and fraud. VASCO , a leading provider of strong authentication solutions helps financial and other organizations to effectively combat online fraud by ensuring the authenticity of the transaction and users.
Its e-signature functionality provides excellent protection against so called man-in-the-middle attacks and similar fraud schemes. The solution ensures that banks and other organizations can economically deploy a comprehensive, scalable, high-performance two-factor authentication solution.
After entering a personal PIN code, the user simply chooses the desired application. Whether it is a dynamic password to securely log-on to a restricted website or an e-signature to sign a financial transaction, DIGIPASS provides banks with an outstanding security solution.
Static passwords are the weakest link in your network security, exposing your sensitive data and applications to online fraudsters. The growing need for a much stronger virtual proof of identity is evident across all industries whenever confidential data and resources are involved.
It carries all functionalities of an a la carte authentication solution and includes all necessary hardware and software for a simple two-factor authentication rollout. This lightweight solution resides on your existing server and involves minimal setup and management.
Low Total Cost of Ownership There is no need for new servers or appliances: you can realize additional cost savings from leveraging your existing infrastructure and reduce administrative and support costs.
Its high flexibility allows adding more users and applications as required by growing companies. I think this question lends itself to a very high level overview of how multi-factor authentication MFA works. Of course, we have to skim over lots and lots of technical detail.
The bank programs the token with a unique encryption key. In this case your Digipass token is made by Vasco, but there are many other companies that make similar tokens, which are " something you have " with regards to multiple factor authentication. The token will generate a series of characters that are derived from the encryption key, current time, and optionally other various factors. Since the bank knows the unique encryption key, and all other other factors that the token uses, they can reverse-engineer the input to find out who "owns" that token.
If the owner of the token matches the owner of the bank account that is being logged-in to, then the login is authentic. There are many variations on this central theme, but in general they always involve "something you have" a physical token, or a smartphone app , a secret key stored within the token, and a mathematical algorithm to produce the output. Often, time is a critical factor in generating the output.
Depending on the algorithm, the output may be different every single time in your case , or it may only vary occasionally e. Every hour. Sign up to join this community. The best answers are voted up and rise to the top.
Stack Overflow for Teams — Collaborate and share knowledge with a private group. Create a free Team What is Teams? Learn more. Ask Question. Asked 9 years ago. Active 1 year, 9 months ago. Viewed 60k times. How does the bank know the code is genuine? Improve this question. DisgruntledGoat DisgruntledGoat 1 1 gold badge 4 4 silver badges 9 9 bronze badges.
Do you put your card in it? Or there is a serial number on it you gave to the bank so they know what the PRNG is seeded to? They look similar but work it different ways. Server runs same algorithm and verifies answers match. From the latter it seems to be generating codes depending on real time. Add a comment. Active Oldest Votes. There are two standard ways to build such a device: Time-based.
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