German lender Commerzbank has decided to implement Cronto's visual transaction signing technology ‘photoTAN’, to offer advanced fraud protection to its online banking customers.
The new technology has been designed to keep online customers secure from attacks by Trojan malware.
Before using a unique authorization code (TAN) to sign the transaction, the customers will be able to securely authenticate the payment with a mobile application or a standalone device equipped with photoTAN.
Commerzbank managing director board member, responsible for business segment private customers Martin Zielke said the photoTAN complies with the demands for security in online and mobile banking, securing its 11 million retail banking customers.
Cronto and Commerzbank have been co-operating since 2008 to develop the latest CrontoSign technology.
Customers can use the photoTAN mobile appliation or a photoTAN device for optical transaction signing.
Headquartered at Frankfurt, Germany, Commerzbank offers various financial services to its private and corporate clients as well as institutional investors the banking and capital market services they need.