Online banking’s a big hit with customers.
It’s a big target for fraudsters too. So Wilson
Ferguson wanted stronger securi...
Challenge
The National Australia Bank Group offers
a wide range of financial products and
services to around 10 million re...
of 2

National Australian Group (NAG) Online banking customers get extra peace of mind with BT two-step account access

NAG puts internet transaction security onto an industry leading platform with managed BT two-factor authentication service Online banking’s a big hit with customers. It’s a big target for fraudsters too. So Wilson Ferguson wanted stronger security for a growing number of online account holders. BT had an answer that could keep pace. Now, over 20,000 business clients have two keys to their account: their own password plus one generated fresh for each transaction by a BT ActivIndentity token. Behind the scenes, a 4TRESS server checks everyone’s credentials, while BT takes care of everything. So Wilson can be sure his clients’ money and his company’s reputation are well protected. And clients know they’re safe and sound.
Published on: Mar 3, 2016
Published in: Technology      
Source: www.slideshare.net


Transcripts - National Australian Group (NAG) Online banking customers get extra peace of mind with BT two-step account access

  • 1. Online banking’s a big hit with customers. It’s a big target for fraudsters too. So Wilson Ferguson wanted stronger security for a growing number of online account holders. BT had an answer that could keep pace. Now, over 20,000 business clients have two keys to their account: their own password plus one generated fresh for each transaction by a BT ActivIndentity token. Behind the scenes, a 4TRESS server checks everyone’s credentials, while BT takes care of everything. So Wilson can be sure his clients’ money and his company’s reputation are well protected. And clients know they’re safe and sound. Online banking customers get extra peace of mind with BT two-step account access When it comes to internet security we felt most confident in the offer made by BT. The fully managed BT proposal would support a wide range of client devices.” Wilson Ferguson Head of Online Channels, Direct Banking NAG Europe National Australia Group Europe Case study
  • 2. Challenge The National Australia Bank Group offers a wide range of financial products and services to around 10 million retail banking and wealth management customers. It is principally organised around its UK, Australia, New Zealand, and Asian regional businesses. Operating in the UK as National Australia Group Europe (NAG) it owns Yorkshire Bank and Clydesdale Bank, with some 350 branches and over 70 financial solutions centres in the UK. Over the past few years, there has been huge growth in the popularity of internet banking. A key challenge for banks the world over is to stay ahead of the fraudsters and provide a secure yet convenient platform for customer transactions. Wilson Ferguson, Head of Online Channels, Direct Banking at NAG, explains: “The total value of internet transactions is growing all the time. Security is our number one priority.” NAG decided to enhance its business internet banking platform to further strengthen security, focusing initially on commercial customers making high value transactions. A key enabler was to be enhanced customer identity verification – so called two-factor or multi-factor authentication. This combines something a customer knows (such as account number and password) with something a customer has (such as a one-time transaction password generated by a token). “The BT platform has met our expectations, both in terms of its security and the whole customer experience.” Wilson Ferguson Head of Online Channels, Direct Banking NAG Europe Case study National Australia Group Europe Offices worldwide The services described in this publication are subject to availability and may be modified from time to time. Services and equipment are provided subject to the respective British Telecommunications plc standard conditions of contract. Nothing in this publication forms any part of any contract. © British Telecommunications plc 2012 Registered office: 81 Newgate Street, London EC1A 7AJ Registered in England No: 1800000 09/10 Wilson Ferguson observes: “A key consideration was that the security solution we chose for our business internet banking platform needed to be scalable and adaptable to support our clients.” Solution Following a workshop with NAG to fully explore the requirement, BT proposed a web-based strong authentication solution featuring two-factor authentication, based upon the highly secure platform that BT uses for remote network access for its staff. The solution, which is provided by BT in association with ActivIdentity Corporation, a global leader in strong authentication and credential management, is built around the hosted 4TRESS authentication server. This provides a scalable centralised authentication service with the flexibility to accept a wide range of user credentials. The 4TRESS server works with customer-held tokens that generate a one-time transaction password, produced by an algorithm synchronised with the central server. Implementation was straightforward. NAG simply needed to enable its internal systems to interface with the BT hosted platform. BT is responsible for the supply, storage, and distribution of ActivIdentity tokens and runs a dedicated helpdesk to take support enquiries from the bank and deal with requests for the issue of lost or damaged tokens and end user passwords. Value The initial focus is towards 20,000 NAG business clients, many of whom conduct a high volume of high value transactions, such as supplier or staff payments on a regular basis. Wilson Ferguson comments: “The BT managed authentication service is proving to be highly secure. As a web-based system that BT manages for us in its entirety, it safeguards customer anonymity and totally complies with data protection requirements.” BT has been able to implement an effective internet security solution for NAG very quickly with modest up front costs, by leveraging value from its own authentication investment. As well as being proven technology, the platform is fully scalable and adaptable for more widespread use. Although specific fraud prevention statistics are highly confidential, NAG is delighted with the performance of the BT solution. Wilson Ferguson concludes: “The BT platform has met our expectations, both in terms of its security and the whole customer experience.” Core BT services ¾¾ Fully managed strong authentication platform from the BT Assure portfolio ¾¾ Professional Services and helpdesk services NAG puts internet transaction security onto an industry leading platform with managed BT two-factor authentication service

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