Storebrand to deploy Encap’s authentication solution

Storebrand’s customers will be the first to benefit from tokenless two-factor authentication.

Oslo, Norway, 21st May 2009 – Encap has today announced that Storebrand, specialists in insurance and financial services, will be the first to use Encap’s software-based two-factor authentication solution. It will provide Storebrand’s retail banking customers with secure access to online financial services across a range of smart devices as well as their PC.

Storebrand chose Encap’s innovative authentication solution as it offers its customers a simple way to access their accounts using devices they already own rather than a separate hardware token or SMS one-time password. Unlike other security methods, it requires no CAPEX investment and needs only limited customer education.

“Our customers demand peace of mind, and want to be sure their confidential details are secure – but at the same time they don’t want to overly inconvenienced,” said Trygve Dahl, CIO at Storebrand Bank. “Encap offers us a way to give our customers the security they demand without confusing them with new pieces of hardware that demands a huge investment on our part.”

“This is an important milestone for Encap,” said Petter Taugbøl, CEO of Encap. “We’re delighted that Storebrand, a long-established Norwegian financial institution, is our first client. We hope Storebrand’s customers enjoy the simple and secure access to their online financial services regardless device or network.”

Easy, quick and convenient for users, Encap’s authentication solution 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.

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About Encap
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.

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The Storebrand Group
The Storebrand Group, with roots back to 1767, is a leading player in the Nordic markets for pensions, life and health insurance, banking and asset management.

The group’s head office is in Oslo and it has a nationwide network of offices in Norway. It has also established life insurance, asset management and health insurance activities in Sweden.

Following the acquisition of the Swedish life insurance and pensions provider SPP in December 2007, Storebrand is now the Nordic region’s leading provider of life insurance and pensions.

The Group’s activities are carried out through four main business areas:

  • life insurance
  • P&C insurance
  • asset management
  • banking

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Contact for Press:
Daniel Lowther/Sarah Wilson
T: +44 7747 636 687 / +44 7817 630794