G+D Mobile Security and Samsung SDS develop mobile ID solution


G+D Mobile Security has developed a biometric solution for authentication of mobile banking and payment services powered by Samsung SDS Nexsign software.

Called Nexsign, the product is a FIDO (Fast Identity Online)-certified authentication solution with unique features for financial institutions that allows users to apply multiple biometric features such as fingerprint, face, and voice credentials for accessing mobile banking services. End customers benefit from a very simple authentication, as they no longer need to handle long and complex passwords.

The mobile channel has now become the most popular channel for accessing banking services, recently overtaking PCs and laptops. However, as customers turn to mobile, so do cyber criminals, forcing banks to adopt higher levels of security to combat these new forms of cyber attack.  

Security is one of the key objectives of the revised Payment Services Directive (PSD2), which mandates very strong and secure authentication for mobile electronic payment services. Specifically, PSD2 requires EU payment service providers to implement a combination of at least two independent identifying elements to authorize transactions (known as two-factor authentication). These elements can be a physical item (for example a card or a mobile phone) which is usually combined with a biometric element such as fingerprints.

In a statement, the firms said the solution now being offered by G+D Mobile Security is fully compliant with PSD2 requirements and has a number of unique features .

"With G+D Mobile Security`s established presence in the financial market and a strong reputation for delivering mobile security solutions to banks, this partnership with Samsung SDS is very well placed to address the growing demand for stronger customer authentication and to fulfil the latest banking regulations," stated Gabrielle Bugat, Head of the Financial Services Solutions Division at G+D Mobile Security.

"With Samsung SDS's strong reputation for technology and innovation, coupled with G+D's solid pedigree in both mobile security and in financial services, we have a very powerful partnership capable of delivering a unique and very exciting solution that meets the needs of customers, banks and regulators alike" adds Jongcheel Im, President of Samsung SDS Europe.

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