ActivIdentity Corp., a provider of strong authentication and credential management, announced that it has signed a contract with The Co-operative Financial Services, part of a consumer financial services provider in the United Kingdom.
ActivIdentity’s 4TRESS Authentication Server secures money transfers, account updates and the addition of new payees. The Co-operative’s 1 million retail customers will use a bank issued debit or credit cards to generate one-time-passwords for authentication and transaction signing. By replacing static passwords with 4TRESS strong authentication the bank is trying to further protect customer data with EMV security.
The Co-operative Group is part of the Co-operative Financial Services. The Co-operative Financial Services offers a range of financial services including retail, business and corporate banking, investments, lending, and insurance.