Trough HSBC Direct, its recently launched virtual bank, HSBC Bank Brazil is the first bank to offer fully integrated m-banking services to its retail customers by using DIGIPASS for Mobile, allowing them to withdraw cash from ATMs, conduct transactions, make money transfers and online payments and check their balance, loans and investment statements.

The bank innovated its customer authentication process to access the bank’s online applications. From now on, HSBC’s Direct customers are identified through their social security number instead of their account number. This new method, whereby the mobile phone is used as an authentication device, enables customers to user their mobile phone to access HSBC’s services through all channels (ATM, phone banking and internet banking) without needing to remember user name and password combinations.

VASCO’s DIGIPASS for Mobile requires no additional hardware as the authentication application is installed directly on the mobile phone, circumventing extra charges and cell phone coverage limitations.

Customers log on to the application with their social security number and a six-digit PIN number created by him/herself, then the client has in his/her hands a safe password OTP generator. Once this password is verified by VACMAN® authentication software, customers can access any HSBC Direct channel and are able to withdraw cash from an ATM, access internet banking and conduct any other transaction such as money transfers and online payments.

VASCO’s technology also offers synchronisation between server and platform time taking daylight saving time changes into account. This means that DIGIPASS for Mobile will continue to be fully operational when travelling through different time zones; turning it into a true mobile solution that can be used anywhere, anytime.

Tackling internet fraud is an ongoing battle, said Marcello Veronese, head of HSBC Direct in Brazil. HSBC Brazil is therefore committed to providing its customers with the highest level of security, without compromising on user-friendliness.

By deploying an authentication solution based on social security numbers in combination with DIGIPASS for Mobile, we are able to provide secure m-banking services in a convenient and cost-effective manner. We strongly believe that mobile banking is the future and will become an innovative and important differentiator in an increasingly competitive financial sector.

DIGIPASS for Mobile allows financial institutions to quickly launch m-banking services to their customers in developed and emerging markets creating a new convenient communication and transaction channel to and for end-users. Furthermore, the software based authentication solution is very cost-efficient in roll-out and readily accepted by customers as it is integrated into a device that is well recognized by the end-user.

Banks have recognised the strength of the mobile platform to offer additional services, said Jan Valcke, president and COO of VASCO Data Security. Thanks to m-banking, banks can substantially increase their financial services outreach by using a multi-channel approach.

VASCO embraces this growing market trend by broadening the availability of its two-factor authentication technology for leading mobile solutions, offering our customer expanded security options and cost-savings opportunities.