PhoneFactor is helping to combat bank fraud in Europe by teaming with Proton Bank. Headquartered in Athens, Greece, Proton Bank will implement the company’s multi-factor authentication service to add a layer of security to Proton’s eBanking application.
The PhoneFactor service works by placing an automated phone call to the user to authenticate online banking account logins and transactions. The user answers the call and enters a memorized PIN on the phone keypad to authenticate.
The service works with any phone, anywhere in the world and protects against password phishing, key loggers and other forms of malware. “The user experience is fully localized. So when a user receives an authentication call, the messages are all in Greek. It’s quick – the user’s phone rings within a few seconds, and the caller ID displays a local number,” said Fotis Mitsakis, Proton Bank CTO.
In addition to securing online banking, PhoneFactor also offers multi-factor authentication services to secure employee remote access and cloud services for enterprises worldwide.