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TMCNet:  Latest System of Virtual Identification from Rietumu Bank Has Been Launched

[August 21, 2014]

Latest System of Virtual Identification from Rietumu Bank Has Been Launched

(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 21 August 2014 Release date- 20082014 - Rietumu Bank offers a unique identification system for clients who work with the bank from mobile devices.

So far, the performed solution has no analogues, it is reliable and user friendly.

Starting from August, Rietumu Bank clients can use the new system to work with the bank from iPad tablets; the system application will also be available for iPhone shortly.

'The key advantages of our system are maximum user friendliness in combination with the highest level of safety,' notes the SVP of Rietumu Bank for IT and Business Technology Eugene Dugaev, 'We have managed to achieve this due to really outstanding engineering solutions, which have been implemented jointly with the world leader in strong authentication systems - VASCO. A lot of nuances have been thought over, which are invisible to the user but provide reliability and safety for the system: the identification of compromised devices, activation and binding of the digipass, both on the side of the tablet and on the side of the bank, control over the sequence and time intervals of coming signatures and many other technological details.' So, what does Rietumu Bank offer for its clients now? It is a new application with a built-in virtual digipass - Digipass for Mobile (the name under which the new solution is registered in international registers), which is fully functionally similar to a physical identification device used by the bank's clients. This is a feature that clearly distinguishes the new identification system used by Rietumu Bank from the habitual methods used in banking practice up to now.

The virtual digipass is smoothly integrated in the application which is developed and implemented for the Internet bank on iPad - iRietumu HD. This application was launched by the bank this summer.

As Eugene Dugaev noted, Rietumu Bank devotes special attention to mobile devices from Apple in view of their popularity, which keeps on growing. Another reason for such a choice is that the operational system iOS used in Apple devices is currently the most protected one, in comparison with its rivals, from unsanctioned access, hacking and malicious software.

The concept of full virtualisation of a device for the confirmation of transactions offered by Rietumu Bank eliminates a number of inconveniences involved in the usage of an ordinary code calculator, while at the same time retaining practically all of its advantages. Digipass for Mobile is linked with the specific iPad of the client and will not function on other tablets, it has several levels of protection and a special system of data storage which practically excludes the possibility of a password attack.

When performing a transaction, the client, the same way as with the usage of a physical digipass, can perform a check visually and control the correspondence of an electronic signature generated by the device to the parameters of the specific payment. This is different from the spread approach, when payment parameters are entered into a device as a digital code, which does not allow the direction and the amount of payment to be determined. The system used by us allows the user to control what he signs and protects from hacker attacks, when attackers replace details of the beneficiary at the time of sending a payment.

Digipass for Mobile is an independent device, built into the mobile Internet bank, and it can be used fully separately to the Internet application, for example, for identification during an ordinary call to the bank by phone, signing orders by fax, etc. Several digipasses can be installed on one iPad, for example, for different family members.

On the other hand, when working with the Internet bank on iPad and soon also on iPhone, one can also use an ordinary physical digipass-calculator received from the bank. Thus, the bank's client always has full freedom in choosing the means of authorisation and control over his cash movement.

'We strive to provide our clients, who perform big transactions, with a possibility of taking independent decisions at all stages of remote work with their accounts. Implementation of this task, to provide such a way in which the process of fund management can be equally simple and safe is not an easy task, but we have applied maximum effort and I think that the result is worthy,' emphasises Eugene Dugaev.

The bank's mobile application - iRietumu HD - also has a number of other improvements in comparison with the traditional Internet bank, which make fund management more pleasant and convenient.

The application provides all payment templates created in the Internet bank. In the event there is no payment template available, an earlier made payment can easily be repeated, no matter how complicated it might be. As for the card, it can easily be refilled with two clicks, with no need to enter an amount.

It is also much simpler to make new payments - the system will find them quickly and will enter the details of the beneficiary bank according to the account number provided in IBAN format. The system also supports multilevel signature scenarios, when the signatures of several persons are required to be collected to perform an order.

The iRietumu HD application for iPad can be downloaded from AppleAppStore. The bank clients can order the virtual digipass from their personal manager at Rietumu.

Eleonora Gailisha Mass Media and Public Relations Phone: +371-67020506 Fax: +371-67020563 E-mail: egailisha@rietumu.lv (c) 2014 Electronic News Publishing -

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