LONDON -- Gemalto (Euronext NL0000400653 GTO), a world leader in digital security, today announces it is providing Barclays Bank plc, one of the largest financial services institutions in the world, with a tailor-made product supporting Barclays project to offer stronger authentication for online banking customers. The Gemalto solution includes the authentication devices and a full service encompassing design of the readers, fulfillment and distribution to the Barclays customer. In addition, Gemalto produced a unique looking device, customised with the banks visual corporate identity. The contract calls for the delivery of over half a million units by the end of this year and includes options for additional deliveries into 2008.
Barclays strong authentication program is aimed at preventing online fraud related to remote banking and helps prevent the theft and use of online banking credentials. When the bank decided to implement this large-scale scheme, ease-of-use and convenience were determining factors. Barclays customers will be able to generate One-Time-Passwords with the reader, to authenticate themselves at log in and sign transactions undertaken, inserting their chip-enabled banking cards into the Gemalto device and typing in their card Personal Identification Number (PIN) code. Barclays customers can carry the devices with them wherever they go and perform these secure online transactions from any personal computer.
The device is compliant with the standard industry specifications - EMV, MasterCard and Visa Chip Authentication Program (CAP) 2007. It also meets the APACS (the UK payment association) requirements.
"This contract with Barclays recognises Gemaltos leadership in the digital security arena," explains Jacques Seneca, president Europe, Gemalto. "We have been selected among a number of security solutions experts, through a very comprehensive process, and we are delighted to provide Barclays customers with the freedom to enjoy enhanced security and simple remote banking, whether at home or on the move."