The bank has selected the RSA SecurID® solution to supply strong, two-factor authentication and has provided 19,000 tokens for its internet banking customers enabling them to bank online confidently and safely.
The National Bank of Abu Dhabi is the first bank in the Middle East to provide this service for its customers, and made the decision as a result of concerns over an increasing number of high profile security vulnerabilities, and the rise of phishing and spyware attacks. As well as combating security worries, the bank also believes that deploying RSA SecurID tokens will give it a competitive edge by helping to restore customer confidence in online banking.
”Recent high profile security breaches mean that awareness of the potential risks of banking online is high and many users are nervous of using the internet to conduct financial transactions,” said Srood Sherif, Head of Information Technology Division at National Bank of Abu Dhabi. “We wanted to provide additional security and peace of mind for our customers, and believe that using strong, two-factor authentication such as RSA SecurID technology is one of the best ways of achieving that.”
“Many organisations, including banks and financial institutions, are realising that static passwords simply cannot provide adequate protection against online fraud, identity theft and other forms of Internet crime,” said Miles Rippon, Sales Director at RSA Security. “They are looking for better ways of providing protection and proactively restoring faith in the Internet. We’re pleased to have the opportunity to work with National Bank of Abu Dhabi in achieving that goal.”
National Bank of Abu Dhabi evaluated several authentication alternatives, and selected the RSA SecurID solution because it offers ease of use and functionality, and is a robust and scalable technology. The bank was also keen to place its trust in the recognised expert in protecting online identities and digital assets, and had experience of working with RSA Security on a previous project.
National Bank of Abu Dhabi had already implemented RSA SecurID technology for its corporate customers in July 2001, and the success of this initiative coupled with increased security fears prompted them to investigate extending the deployment to its retail customers.
The first phase of this latest implementation includes all internet banking customers and will be introduced shortly. The second phase of the project will be to use RSA SecurID technology to allow employees of the bank to securely log in to internet and email applications when out of the office. Looking to the future, the bank also plans to deploy the technology for use by staff when logging into internal applications.
Tuesday, October 4- 2005 @ 13:52 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.