Complete Telecom, the managed network and telecoms services provider, is bringing Swiss technology group Cidway’s mobile phone authentication product range to Ireland. Sales of the products, which include protection against card fraud, are projected at over EUR*500k for 2008. The Irish Payment Services Association estimates that card fraud alone – ranging from ATM cards to credit and debit cards – costs Irish banks, retailers and customers over EUR*12m annually.
Cidway’s products, which it says are in use by banks across Europe and the Americas use one-time PINs or passwords, enabled over mobile phone based applications. Acoustic encryption lets telephone banking systems authenticate users with a short burst of encrypted data over the normal telephone call, thereby eliminating the need for long strings of PINs, pass codes and access numbers to be entered.
Complete Telecom MD Kevin Murphy said his firm’s research shows strong demand for such security products in Ireland from banks and other businesses that need to guarantee customer security. “As customers become more aware of the risks they face, they also become more aware of the security solutions available. Cidway’s products are an excellent way to ensure the best balance between security and usability for all involved.”
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