CHICAGO and WARSAW, Poland, Nov. 14, 2019 (GLOBE NEWSWIRE) — OneSpan™, a global leader in software for trusted identities, e-signatures and secure transactions, today announced that Bank Millennium, a rapidly-growing subsidiary of Banco Comercial Português (Millennium bcp), has deployed Cronto® technology to secure transactions while improving the experience for its corporate banking customers.
Bank Millennium has long prioritized implementing innovative technologies that help improve the customer experience. With innovation and customer experience as drivers, the bank selected OneSpan’s Cronto technology, a patented visual transaction signing solution that uses a graphical colored cryptogram to encrypt transaction details. Implementing Cronto will help the bank provide a simple and convenient experience for customers, and enable functionality including batch transaction signing.
Cronto helps secure transactions by enabling users to check transaction details like amount and account number before signing the transaction. The technology also helps counter trojans such as man-in-the-browser or man-in-the-middle attacks by establishing a secure connection between the device and the bank. Together, these functionalities help Bank Millennium meet the high security and speed requirements required for corporate banking.
“We chose OneSpan’s solution together with our corporate customers,” said Director of the Electronic Banking Department at Bank Millennium, Halina Karpińska. “After reviewing what was available in the market against our requirements, we consulted with our customers so they could share their opinion. Based on their feedback, we selected OneSpan.”
“Banks are more often considering the importance of customer experience across all banking channels, including corporate banking,” said OneSpan Senior Vice President of Global Sales, Dan Dica. “Bank Millennium has chosen not only to address the needs of its customers but also to help future-proof the corporate banking process with OneSpan.”
Bank Millennium is one of many financial institutions across Europe using Cronto technology to defend against sophisticated attacks, while meeting the PSD2 requirements. OneSpan recently announced successful deployments with Volkswagen Bank and United Bulgarian Bank that use Cronto to securely sign online transactions.
About Bank Millennium
Bank Millennium is a nationwide universal bank, offering its services to all market segments via a network of branches, individual advisors and electronic banking. From the outset it has been a trendsetter in the Polish banking sector. The founders and shareholders of the Bank were from the beginning guided by the idea of building a modern institution, drawing on the best banking tradition and successfully competing in all segments of the financial market.
We have built our knowledge of the Polish financial market on the many years of experience in providing service to corporate and individual customers, adding the financial know-how and international expertise contributed by Banco Comercial Português (Millennium bcp) – Portugal’s largest commercial bank and the strategic shareholder of Bank Millennium.
OneSpan enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. We do this by establishing trust in people’s identities, the devices they use, and the transactions that shape their lives. We believe that this is the foundation of enhanced business enablement and growth. More than 10,000 customers, including over half of the top 100 global banks, rely on OneSpan solutions to protect their most important relationships and business processes. From digital onboarding to fraud mitigation to workflow management, OneSpan’s unified, open platform reduces costs, accelerates customer acquisition, and increases customer satisfaction. Learn more about OneSpan at OneSpan.com and on Twitter, LinkedIn and Facebook.
Copyright© 2019 OneSpan North America Inc., all rights reserved. OneSpan™ and Cronto® are registered or unregistered trademarks of OneSpan North America Inc. or its affiliates in the U.S. and other countries. Any other trademarks cited herein are the property of their respective owners.
Frauke De Graeve
Public Relations Manager
+32 497 14 80 47
Global Director of Corporate Communications
Source: OneSpan Inc.