TORONTO – Dataquest estimates that 23.2 million U.S. adults will bank online by 2004, up from 7 million in 1998, yet security remains one of the biggest barriers to consumer acceptance of eBanking and eCommerce. iBanking uses smart card authentication to verify the identity of customers and financial
institutions engaging in online transactions, ensuring a viable, secure way to do virtual banking. iBanking enables financial institutions to combine a complete multi-channel delivery platform with a portable multi-function relationship card with PKI security features.
“The Internet economy is forcing businesses, the banking industry in particular, to re-think the way they invest in technologies, shape their company business model and develop successful strategies that will take them into the future of eCommerce,” said Ashraf Dimitri, president and CEO of Oasis
Technology. “iBanking is not only an investment in the security and transactional richness demanded by consumers today, it’s an entire strategy for managing a multi-channel delivery solution on a single platform.”
Oasis Technology, G&D Security Card Systems (G&D SCS), and CIT, a division of Silverline Technologies, announced the release of a next-generation Internet banking solution powered by Public Key Infrastructure (PKI) security on a convenient, portable smart
card. The new solution, iBanking, will dramatically enhance the way today’s online banking transactions are made across a wide range of mobile and Internet-enabled computing devices.
Oasis, G&D, and CIT launched iBanking on Thursday, August 24th at the 3rd Annual Oasis Connection partner and client user conference held in Toronto, Canada.
iBanking is designed to provide financial service and investment customers with a full range of retail, corporate and investment banking services protected by the industry’s most advanced PKI security. In combining Oasis’ leading ePayment technology, CIT’s powerful PKI-based security architecture and G&D’s smart card infrastructure, iBanking brings retail and corporate customers a new level of confidence when exchanging financial information online.
A recent report by Celent Communications indicates that 150 million customers around the world are projected to use wireless financial services by 2004. These global consumers will ultimately demand the same combination of investment, corporate and retail banking functionality, combined with “anytime-anywhere” availability of the mobile channel. iBanking enables
financial institutions to extend their channel delivery strategy across a range of mobile devices, compete effectively against emerging eFinance portals and better identify their existing customers for incremental revenue opportunities. This year’s Connection will also feature live demonstrations of the mobile version of iBanking.
“Some of the most exciting advancements in the ePayment industry have revolved around smart cards,” said Jim R. Frye, president of G&D SCS. “Our successful experience rolling out smart card based solutions for global customers indicates that the market is ripe for a multi-application relationship card that will extend the banking relationship through loyalty, personalized payment instruments and many other smart card applications.”
“The security benefits of smart cards for merchants and consumers alike are becoming more and more important as the number — and value — of online transactions increase,” said Ashraf Zaki, president of CIT, a division of Silverline Technologies. “iBanking takes security to another level by
introducing smart card authentication to verify the identity of customers and financial institutions engaging in Internet banking transactions, plus provide signing and non-repudiation for all transactions.”
Gathering more than 200 clients, partners and ePayment industry experts from over 25 countries, Connection 2000 provides an interactive forum designed to drive the evolution of global ePayment technology standards. In addressing the regional needs of so many diverse companies throughout the world, Connection offers the opportunity for Oasis — and its clients and artners — to find innovative new ways to grow their businesses and evolve their payment processing strategies.
www.oasis-technology.com
www.gieseckedevrient.com
www.citglobal.com/
