Gemalto, a provider of digital security products and services, has acquired Sweden-based provider of authentication solutions for online banking Todos from investors led by 6AP, a fund belonging to the Swedish National Pension system.
Todos core offer is the eCode Suite, including the Todos Versatile Authentication Server, which enables authentication and transaction verification. The Versatile Authentication Server supports industry standards and is augmented by patented technology such as Dynamic Signatures.
Using Gemalto’s EMV card and Todos’ eCode reader, consumers can use their PIN code to securely sign internet banking transactions. An additional layer of security can be provided by displaying transaction details on the reader, so that users ‘sign what they see’, preventing in particular ‘man in the browser’ attacks.
Over the coming months Todos will be integrated with Gemalto’s identification and access management business line.
Oliver Piou, CEO of Gemalto, said: “Todos is a perfect fit with our e-banking business, bringing a complementary customer base and extending the solution offering. The combined business creates a new leader to address the fast growing internet banking market worldwide.”
Ove Wedsjo, CEO of Todos, said: “Our combined products, customers and technologies establish us as the global leader in internet banking. Going forward, I am confident that we will be able to further accelerate our growth, thanks to our extended customer reach, ensuring a safer online environment for e-bankers everywhere.”