Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

Standard Chartered Bank goes with Arcot for online security

Tuesday, May 20, 2008

Standard Chartered Bank, India’s largest international bank, has selected Arcot Systems to provide a better online security for its 2.1 million customers. Arcot, a Sunnyvale, Calif.-based provider of secure e-payment and authentication systems, will supply TransFort to support the bank’s implementation of Verified By Visa and MasterCard SecureCode for online transaction security. Arcot will host the service in its SAS 70 certified, PCI DSS-compliant data center.

Verified By Visa and MasterCard SecureCode are based on the 3-D Secure global standard. The programs are designed to bring the same level of security to Internet shopping as is available in the physical world by using a customer selected password to confirm that the online buyer is the actual cardholder. The extra layer of authentication takes place on Arcot’s server, so the password is never visible to the merchant’s website. [end] 

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