Through the use of XMS technology NSS has created a number of solutions specifically tailored for banks and other financial institutions to implement safe, secure and trusted transactions for mobile banking (m-banking) or mobile commerce (m-commerce) initiatives.
Security management of wireless-based technology solutions, although similar to other electronic delivery channels, involves unique challenges created by the current state of wireless services and wireless devices.
Financial institutions in particular must comply with regulatory requirements and industry best practices in order to:
- Ensure the security and confidentiality of customer information.
- Protect against any anticipated threats or hazards to the security or integrity of such information.
- Protect against unauthorized access to or use of such information that could result in substantial harm or inconvenience to any customer.
To complish these requirements all XMS financial products feature two-factor authentication, a pre-requisite for most financial transactions, through:
What you have: A registered handset with the XMS application.
What you know: M-PIN registered with the bank or credit card issuer.
Additional security features for our Banking Solutions also include:
- Password-based user authentication
- Application level encryption on the handset that ensures data both at rest as well as in transit remains confidential
- Public/Private key based authentication mechanisms and digital signatures ensure message integrity
NSS currently offers two XMS financial solutions - please select the relevant links to learn more about them:
- XMS Mobile Banking
XMS Mobile Banking creates a new secure channel for interaction between a bank and its customers. A Java based application installed on the phone uses digitally signed and encrypted messages for notifications, account access, funds transfers and mobile based payments.
- XMS Mobile Anti Identity Theft Solution
The XMS Anti Identity Theft solution builds upon the XMS Mobile and XMS Mobile Banking solutions by allowing banks and credit card issuers to securely implement personal two-way authentication of credit card transactions with their customers in a real-time environment.
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