UniCredit Bank Austria is rolling out an innovative security system for mobile banking that offers customers maximum protection and great usability. The system is based on a copy-proof holographic fingerprint security label integrated into the debit cards of Austria’s leading bank. Users scan the label with their smartphones, thus confirming the physical presence of the card and connecting the latter to the mobile device. Consequently, the mobile banking app can be used exclusively on this device until the user connects a new smartphone to the card. Developed by Authentic Vision, a Salzburg HQ’d global hi-tech enterprise, the technology impedes the misuse of access data and replaces additional verification codes. The Holographic Fingerprint™ has established a track record of success across several use cases and has already become a staple for brand protection around the globe.
Salzburg, October 4, 2021. Authentic Vision’s Holographic Fingerprint™ label is unique and copy-proof, providing additional security for UniCredit Bank Austria’s customers. Authentic Vision’s solution uniquely confirms the user’s identity. It is an identity feature that cannot be copied or unintentionally passed on by the user – a physical seal that is linked to the digital world.
Once customers have registered with the Holographic Fingerprint™, fraud is no longer possible by means of data passed on in “good faith,” i.e. transmitted over the phone or in electronic form. Without the physical possession and use of the bank or debit card, fraudsters cannot use the data and a transaction cannot be carried out.
The very feature that makes remote access impossible for unauthorized third parties also makes mobile banking simple and convenient for customers. The technology is integrated into credit or debit cards in the form of a Holographic Fingerprint™ label. Users scan the label with a smartphone to connect a mobile device to their card, for example when activating a new card or switching to a new smartphone. The procedure is user-friendly and completely secure. Bank Austria is the first banking institution in Austria to use this type of mobile authentication.
Benefits for the customer and the bank
Robert Zadrazil, CEO of UniCredit Bank Austria, says: “Especially in the case of social engineering, i.e. the unintentional disclosure of security-critical data – for example in phishing attacks or so called grandparent scams, in which callers pretend to be close family members of senior citizens, in order to gain data – it is important to find smart solutions to prevent the possible use of wrongfully obtained sensitive information. The Holographic Fingerprint™ label makes smartphone registration for UniCredit Bank Austria MobileBanking even safer and easier, whether it is during a first-time registration or after a smartphone change.”
Thomas Weiss, cryptologist and CEO of Authentic Vision adds: “Our Holographic Fingerprint™ offers the highest level of security and usability, making mobile banking very straightforward. Our solution is easy to use and works with any smartphone. We are pleased to now be able to offer our authentication service in the area of mobile banking as well. The cooperation with UniCredit Bank Austria Group represents another milestone in the universal use of our security solution.”
“The future of financial services lies in the perfect and seamless interweaving of physical and digital services, because the future belongs to omnichannel banking,” emphasizes Marion Morales Albinana-Rosner, Head of Strategy, Digital and Products at UniCredit Bank Austria. “Together with Authentic Vision and their Holographic Fingerprint™ label, we offer an innovative solution on every bank card to ensure even more security.”
This process will save Bank Austria customers other two-factor authentication steps such as activation letters, passwords or branch visits, while providing even better protection against fraudulent attacks. The Authentic Vision system is interoperable, working on any Android or iOS smartphone. Furthermore, it is GDPR-compliant.
About Authentic Vision:
Founded in 2012, Authentic Vision is a provider of mobile authentication solutions with offices in Salzburg and San Francisco/USA. As the owner of numerous patents, Authentic Vision cooperates closely with leading security experts worldwide. This creates a head start to latest developments in product security and digital customer communication. Authentic Vision GmbH thus offers the latest anti-counterfeiting and authentication technologies that protect its clientele’s investment in product innovation, brand value and reputation, while increasing new opportunities for trust and loyalty with their customers. For example, the patented Holographic Fingerprint™, mobile authentication app and real-time analytics protect physical goods from counterfeiting and alert brand and product owners to potentially fraudulent activity. Since 2020, Authentic Vision has also offered comprehensive security solutions in the wake of the Covid-19 pandemic.
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