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SafeNet ViewPIN+ Increase Profits, Prevent Fraud, Save Trees with Web-based PIN Issuance

SafeNet ViewPIN+ Increase Profits, Prevent Fraud, Save Trees with Web-based PIN Issuance. Agenda. Market and Product Overview Market drivers Pros and cons of PIN issuance methodologies Cost and security advantages Who can benefit Technical Overview How does it work?

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SafeNet ViewPIN+ Increase Profits, Prevent Fraud, Save Trees with Web-based PIN Issuance

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  1. SafeNet ViewPIN+ Increase Profits, Prevent Fraud, Save Trees with Web-based PIN Issuance

  2. Agenda • Market and Product Overview • Market drivers • Pros and cons of PIN issuance methodologies • Cost and security advantages • Who can benefit • Technical Overview • How does it work? • Product Portfolio Placement • Topography • ViewPIN+ Cardholder Experience • Business Case • Egg Banking PLC

  3. Market & Product Overview

  4. Market Drivers • Increased margin pressures • Security threats (external and Internal) • Globalization • Compliance

  5. Market Drivers • 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. Market Drivers • 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

  7. Issues with traditional PIN issuance http://business.timesonline.co.uk/tol/business/money/consumer_affairs/article4259009.ece

  8. 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.

  9. 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.

  10. SafeNet ViewPIN+

  11. SafeNet ViewPIN+

  12. SafeNet ViewPIN+

  13. SafeNet ViewPIN+

  14. SafeNet ViewPIN+

  15. Who can benefit? • Retail and commercial banking, • Wealth management, • Card issuers, • Large retailers that issue cards, • Mobile payments and GSM phone operators, and • Any organization that needs to issue credentials frequently.

  16. Technical Overview

  17. How Does It Work? • Uses the cardholder's desktop as a secure PIN delivery endpoint • Provides an end-to-end encrypted transaction through a secured web banking session. • Maintains separation between the cardholder identity and the PIN to protect against compromise. • Moves the PINs through internal systems without risk of staff access • Provides real time delivery of PINs • Integrates with PIN storage platform

  18. Typical ViewPIN+ Deployment

  19. ViewPIN+ Cardholder Experience • Cardholder enters bank web portal • Cardholder logs into bank account • Cardholder requests PIN • Cardholder retrieves PIN

  20. ViewPIN+ Cardholder Experience • cardholder enters bank web portal • cardholder logs into bank account • cardholder requests PIN • cardholder retrieves PIN

  21. ViewPIN+ Cardholder Experience • cardholder enters bank web portal • cardholder logs into bank account • cardholder requests PIN • cardholder retrieves PIN

  22. ViewPIN+ Cardholder Experience • cardholder enters bank web portal • cardholder logs into bank account • cardholder requests PIN • cardholder retrieves PIN • … all in a matter of seconds−securely!

  23. Egg Case Study

  24. 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

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