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The Digital PIN ROI Operational Savings + Security

The Digital PIN ROI Operational Savings + Security. November 2009. Agenda. Current Market Situation Pros and Cons of PIN Issuance Methodologies Cost and Security Advantages for Moving to Digital Egg Banking Case Study. SafeNet Today…. protects:.

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The Digital PIN ROI Operational Savings + Security

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  1. The Digital PIN ROI Operational Savings + Security November 2009

  2. Agenda • Current Market Situation • Pros and Cons of PIN Issuance Methodologies • Cost and Security Advantages for Moving to Digital • Egg Banking Case Study

  3. SafeNet Today… protects: • the most money that moves in the world. 80% of all electronic banking transfers -- $1 Trillion a day • the most digital identities in the world. Most PKI identities for governments and F-100 companies • the most high-value software in the world. 80 Million hardware keys; more than any other vendor • the most classified information in the world. The largest deployment of government communications security

  4. PIN Issuance Market

  5. The Reality • Fact: The card and payment market is growing at approximately 10% a year WW & PIN mailers costs issuers millions • This means your cost is going to continue to rise.

  6. The Reality • Fact: Hackers are becoming more sophisticated and identity theft makes up $45 billion of crime in U.S. • The cost per fraud increased 25%- $691/incident • The need to protect against fraud is more critical than ever! *source Javelin Group 2008

  7. How Do We Stay Secure?User Authentication • Cardholder verification method (CVM) • Signature • PIN • PIN • Online - verified by issuer • Offline - verified by card

  8. Who Manages This? Card Issuers • 730 Million EMV cards WW • Role of the Card Issuer: • Initialise each card • Establish key pairs • Personalise each card • PIN • SDA signature • Key Pairs for • DDA • PIN encryption • Keys for • Application Cryptograms • Secure Messaging • …

  9. Issues with Traditional PIN Issuance http://business.timesonline.co.uk/tol/business/money/consumer_affairs/article4259009.ece

  10. The Digital PIN Issuance Advantage

  11. Imagine a World of Secure Digital PIN Issuance • Secure PIN delivery endpoint • Real time delivery • Provide an end-to-end encrypted transaction • Separation between the cardholder identity and the PIN • No risk of internal or external breach

  12. Digital PIN Issuance Advantages

  13. Digital PIN Issuance Advantages

  14. Digital PIN Issuance Advantages

  15. Digital PIN Issuance Advantages

  16. But How?

  17. New Technology: SafeNet ViewPIN+ 2008 Best e-Transaction Solution finalist 2008 Best Solution in Finance Revolutionizing PIN Issuance the ONLY fully automated, secure web-based PIN issuance and management solution on the market that delivers unprecedented cardholder satisfaction and costs savings by eliminating expensive, insecure and time-consuming paper based PIN delivery to cardholders.

  18. What is SafeNet ViewPIN+? • A secure, web-based solution to: • Issue PINs to cardholders; • Remind cardholders of their PIN; • Have cardholders change their PIN. • From any web browser, PC-based or mobile phone based. • In essence, it is a secure credential delivery mechanism.

  19. What is the Business Case?

  20. Typical ViewPIN+ Deployment

  21. ViewPIN+ Cardholder Experience

  22. ViewPIN+ Cardholder Experience

  23. ViewPIN+ Cardholder Experience

  24. ViewPIN+ Cardholder Experience

  25. Who can benefit?

  26. Cost of Paper PIN Issuance

  27. ROI of Digital PIN Issuance

  28. Egg Case Study

  29. Egg Bank selects SafeNet • Challenge • The world’s largest online bank. • Wanted to send PINs efficiently, securely, and in a manner to improve the overall cardholder experience • Needed a way to allow cardholders to securely obtain pins over the Internet • Traditional paper-based system was costly and posed risk • Solution • SafeNet ViewPIN+ for secure PIN issuance, which is secured by SafeNet Luna SP Hardware Security Module (HSM) • Benefits • Quick implementation that improved cardholder experience and provided Egg with a major competitive advantage • Improved profitability by reducing postage and PIN mailer expenditures, as well as cardholders were able to use their cards for purchases quicker • Secure PIN issuance solutions reduced the occurrence of credit card fraud from stolen PIN mailers “Roll out of the Chip and PIN project has proven extremely beneficial to Egg, offering us a secure alternative to PIN mailers which is both cost effective and cardholder friendly,” Egg’s Lead Security Architect Stuart Horler

  30. Thank You!

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