Cronto "App & Sign" Defeats Banking Trojans
Cronto Visual Transaction Signing Selected As A SESAMES 2010 Awards Finalist
CAMBRIDGE, England - -The Cronto Visual Transaction Signing Client for Mobile has been selected as a finalist for the prestigious SESAMES Awards 2010. To be announced on Monday 6th December 2010 at the 25th CARTES & Identification event in Paris, France, the awards present an unchallenged seal of approval in innovation to the winning products.
Chosen out of 396 innovations by a panel of experts, the Cronto Visual Transaction Signing Client for Mobile is one of four finalists in the Trusted Internet/Authentication category. "We are delighted to be recognised as one of the leading innovations in the industry. Cronto was founded in 2005, with a vision to protect online banking transactions using the solution that offers the optimal combination of user convenience, security and cost of ownership. Being a SESAMES Awards finalist alongside market-leading companies shows that we are successfully delivering our vision!" says Igor Drokov, CEO, Cronto.
Protecting online banking customers from Trojan malware that utilises sophisticated technology and social engineering, has become a top priority for the banking industry. The only way to secure against such malicious attacks is by providing full transaction authentication, where the bank can verify that the transaction instruction is authorised by the customer. The challenge, however, is how to deliver this transaction information to a security device be it a standalone hardware device or an application on the mobile phone. Online banking users are seeking to have instant access to their banking services anytime, anywhere, without having to re-enter all their payment details into a separate device, or waiting for an SMS to arrive. Cronto's patented Visual Transaction Signing Application turns the transaction authentication process into an almost magical experience - simply point the mobile phone camera at the online banking screen, and all transaction details appear on the phone ready for verification. One click or tap to start the Cronto Visual Transaction Signing Application is all that is needed for secure transaction authentication.
Commerzbank AG, Germany's second largest bank, is using the Cronto Visual Transaction Signing solution, allowing selected customers to authorise their domestic transfers. "The Cronto Visual Transaction Signing Application achieves exceptional customer satisfaction and cost-effectiveness, by delivering high transaction data capacity, speed and robustness over the optical channel," says David Kreuzinger, Head of Multichannel Banking, Commerzbank AG.
The Cronto innovation solution will be available for demonstration at the Cartes & IDentification 2010 event in Paris on 7-9th December, at Cryptomathic's booth No: 4 N 055 and Gemalto's stand at the entrance of Hall 3.
About Cronto Limited
Cronto Limited is a leading provider of secure visual transaction authentication solutions for online banking, based upon CrontoSign Visual Signing Technology born out of leading edge engineering research undertaken at the University of Cambridge. For more information, visit www.cronto.com.
Contact Information
Anni Maxx Cronto Limited Phone: +44 1223 750001 Email: pr@cronto.com www.cronto.com