Online Banking 2-Factor Authentication

With the rapid growth in account takeover fraud, protecting online and mobile banking sites has never been more important.

Adding reliable 2-Factor Authentication can ensure that risky transactions such as card requests and fund transfers are protected.

With Chip Shield, banks can leverage the chip card already linked to the customer account and use industry standard EMV Dynamic Data Authentication as a simple and proven approach to validate your customer’s identity.

Since the customer’s card number is already know to the bank systems, there is no need for an additional onboarding step to enroll the customer.

Eliminating customer onboarding is important since this process can often open additional paths for fraud.

How It Works – Desktop Web Authentication

Chip Shield provides simple and reliable 2-factor authentication through standard desktop browsers and the Chip Shield card reader.

Our desktop browser extensions allow simple communication with the card reader with a few lines of Javascript in your web page.

At the point where your site wants to validate a customer, simply ask the customer to insert their card into the Chip Shield reader.

We use EMV Dynamic Data Authentication to ensure that the customer’s card is present at the time of the validation.

This is the same process used in store terminals to validate the card was present during a purchase.

How It Works – Mobile App Authentication

Each Chip Shield device has an audio connector that can plug into any mobile device headphone jack.

Typically, mobile customers will only need to authenticate one time when they set up access to their account.

The customer is asked to insert their card into the reader and native libraries allow the app to interact with the reader.

Once the customer has been validated the app can be safely linked to their bank account without a need to validate again.

How it Works – Mobile Wallet Onboarding

Chip Shield can be integrated into mobile wallets to let customers easily and securely load cards into the wallet without risk of fraud.

By using the card’s EMV signature to validate the card is present, fraud security checks can be greatly simplified and customers can load their cards in a few seconds.

EMV Dynamic Data Authentication

EMV Dynamic Data Authentication is an international standard used to validate a credit card is present at an in-store payment terminal. 

We’ve adapted the process for use in online authentication to verify that the customer’s chip card is inserted into their personal card reader at the time of authentication.

The verification process only takes a couple of seconds and can be done inside of your bank application servers using open source security libraries.

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