Corporate Cards Need Trust and Security Too, says Todos

We couldn't agree more...especially with the recent rash of online banking fraud and wire transfers using money mules that has plagued the business sector.  It makes imminently more sense for a business to swipe their corporate card and enter their PIN in order to access their online banking account.  It makes even more sense to do the same when conducting wire transfers and requiring the recipient of said transfer do the same thing on their end... 

 

It's not just consumer cards that are at risk from theft and fraud. This is why Nordea has chosen Todos to secure its First Card corporate customers.





GOTHENBURG, SWEDEN - DECEMBER 03, 2009 - Companies increasingly use credit cards for corporate purchasing, employee expenses and cost control. However, they are at risk from identity thieves, man-in-the-middle attacks, breaches in SSL encryption and plain old-fashioned fraud. Because they have higher credit limits than most consumer cards they are particularly prized by online criminals.



This explains why card issuers are showing increasing interest in enhanced security for corporate cards. For example, they can use systems such as Verified by Visa or Mastercard SecureCode to insist on two-factor authentication using smart card readers.



A recent sales success by Todos illustrates the trend. First Card is Nordea’s card division for business customers. They have recently ordered 30,000 Todos C200 card readers for their customers in Denmark and Norway. They already have 150,000 devices for their Swedish clients.



Using card readers is more secure than using a static password alone because it makes it much harder for online criminals to impersonate real bank customers. Thanks to advanced Todos features including Dynamic Signatures and Secure Domain Separation, Nordea gains additional security compared to other devices from other vendors.



“Although there is a lot of attention on consumer card fraud, and rightly so, but banks should not overlook the security of their corporate customers,” says Ulf Dahlberg, Sales Director Nordic Region at Todos. “With Todos, banks can reassure their most important customers and offer them devices that are easy to use, trustworthy and flexible.”





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Todos AB helps banks and other businesses create trusted, secure relationships with their customers online. Founded in 1987, Todos designs, develops, delivers and supports strong authentication and transaction verification for eBanking and eCommerce. We have delivered over 20m products to 100+ financial institutions in more than 30 countries. When trust matters, trust Todos.



For further information please contact:

John Ahlberg, Communications Director

Todos AB

john.ahlberg@todos.se

http://www.todos.se

+46 31 775 88 00