RaboPlus, New Zealand's online bank specialising in savings and investments, is using world-class, strong authentication technology from VASCO, to provide secure online banking.
All RaboPlus customers are issued with a VASCO Digipass security token free-of-charge - which must be used in conjunction with a personal identification number (PIN) to access their account. Customers must also use the Digipass for authorising all transactions.
Mike Heath, General Manager of RaboPlus, said security is a paramount feature of RaboPlus.co.nz.
"We provide two-factor authentication free to all customers and make it compulsory for all transactions," he says.
Strong authentication is based upon the requirement for the user to present credentials which are based on multiple factors (two or more). RaboPlus.co.nz uses two-factor authentication including something only the user knows (PIN) and something only the user has - the Digipass 250 token.
The world-wide Rabobank group, which includes RaboPlus, enjoys a solid partnership with VASCO, having issued security tokens to more than 2.8 million Rabobank customers during the last eight years.
Mr Heath says: "RaboPlus is pleased to enhance the global partnership with VASCO with the introduction of the DigiPass for all New Zealand customers."
VASCO Data Security International is the global number one vendor of strong user authentication and e-signature products. It has sold more than 20 million Digipasses, to more than 440 international financial institutions, and 2,100 blue-chip corporates and governments located in more than 100 countries.
Maarten Kleintjes, National Manager of the NZ Police e-crime Laboratory says: "RaboPlus' online security measures are one of the best available today.
"We are encouraged that a new entrant to New Zealand's banking scene is raising the bar on the importance of ensuring that access to the account and every transaction a customer makes is secure. After all, at stake here is often someone's lifelong savings and banks need to provide the best security possible at all times," he says.
RaboPlus was launched in New Zealand in February 2006. RaboPlus.co.nz offers New Zealanders a high interest, no fees, on-call savings account as well as term deposits and access to managed funds. The RaboPlus savings account is currently paying interest of 7.35 per cent per annum on call.