Oslo, Norway, 21st January 2011 – Encap’s authentication solution has been approved by the Norwegian Banks’ Standardisation Office (BSK) after a meticulous evaluation process. Encap’s solution was measured against BSK’s requirements for use with BankID’s electronic proof of identification infrastructure. Encap’s industry leading solution is now available to the majority of financial institutions in Norway, and has been deployed by Storebrand Bank.
Encap boosts the adoption of financial services by removing barriers for use. Easy, quick and convenient for users, it creates a familiar, intuitive authentication environment that works across all mobile and PC-based applications. It replaces hardware such as tokens, card readers and SIMs with a financial institution-branded app that’s cost effective and fast to deploy. Furthermore, the solution can be applied to any device independent of system or operator network. Customers can use their personal mobile device to provide secure access and enable authentication.
“The solution was assessed against BSK’s requirements for one-time passwords for BankID,” said Knut Kvalheim, Managing Director of the Norwegian Banks Standardisation Office. “The solution consists of a central server and a client for banking customers’ mobile telephones. Customers are required to go through an activation procedure before the solution can be used. The assessed solution required the customer to enter a PIN-code with each use.”
“All financial institutions in Norway that use BankID will now be able to take advantage of the Encap solution. Software-based authentication eradicates the need for physical tokens. Approval from the Norwegian Banks’ Standardisation Office is another milestone in the journey towards eliminating expensive hardware from the authentication equation,” said Thomas Bostrøm Jørgensen, CEO of Encap. “Financial institutions in Norway can now provide their customers with a simple and secure authentication experience that completely removes capex and hardware deployment costs.”
Encap’s solution works with the major mobile operating systems.
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Encap provides simple software-based, two-factor authentication and digital signing for the enterprise and banking sectors.
Encap represents a revolutionary new approach to authentication for the post-PC era. It replaces hardware and one time password authentication solutions such as tokens, card readers, SIMs and SMS with a mobile client linked to a smart device. Easy, quick and convenient for users, Encap creates a familiar, intuitive authentication process that works across all platforms – PC, mobile or tablet – and via the cloud.
Encap’s unique patented software delivers a ubiquitous security solution that is scalable, easy to integrate and requires no capital investment.
Based in Oslo, Norway, Encap’s world class management team has an unrivalled pedigree in mobile banking, finance, enterprise and remote access security. The Encap solution is approved by the Norwegian Banks’ Standardisation Office and used by major banking institutions, enterprises and technology integrators.
For more information visit: www.encapsecurity.com
BSK (Standardisation office of Norwegian Banks) issues security requirements and technical standards for the common Norwegian payment infrastructure. BSK represents the scheme owner of BankID, an e-ID issued by majority of Norwegian banks and used for authentication and digital signing in a variety of financial and other services. Any one-time password solution used by the BankID certificate holder to access his or her BankID keys must be approved by BSK.
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