Leading European Private Bank seeking a secured internet banking channel to serve its private banking clients in APAC
PROJECT NAME: E2E Encryption Authentication for Internet Banking Portal for private Banking Clients
THE BUSINESS ISSUE:
The Bank needed a stronger web-based Internet Banking channel to serve its private banking clients in the Asia Pacific region. It must now comply or exceed security guidelines outlined by all the central banks in the Asia Pacific region including the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority(HKMA) that calls for Banks to “afford sufficient protection of encryption keys and confidemial data in an end-to-end authemication operation.” (MAS-IB-TRM June 2003) Current technologies (e.g: SSL) do not provide the privacy and protection against today’s sophisticated attacks from ‘within’ and ‘ without’ the Bank.