This is the bank’s third major implementation of an authentication solution. Sumitomo Mitsui Banking Corporation first introduced an OTP solution based on matrix authentication to their SMBC Direct retail internet banking services.
In 2013, SMBC implemented VASCO DIGIPASS 275 hardware authenticators for additional security. SMBC has experienced a rapid increase in the number of transactions conducted via smartphones. SMBC customers are now able to select either a hardware or a phone-based software authenticator.
DIGIPASS for Apps is a comprehensive 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."
"Foreign hackers have been targeting Japanese bank accounts in record numbers using sophisticated phishing attacks and malware," stated Jan Valcke, President and COO of VASCO. "With DIGIPASS for Apps, we provide a mobile solution that protects the bank’s customers against cyberthieves’ newest and most innovative attacks."
