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Industry: Email Alert RSS FeedeFonds Financial Services chooses TynTec for mobile One Time Passwords
Telecomworldwire, Nov 5, 2008
TELECOMWORLDWIRE-5 November 2008-eFonds Financial Services chooses TynTec for mobile One Time Passwords(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
UK mobile operator TynTec announced on 5 November that it has reached a deal with eFonds Financial Services to supply the 4500 independent financial advisors (IFAs), who use the eFonds web-based trading platform, with One Time Passwords (OTPs).
The company said that it has guaranteed that the passwords will be delivered to the correct mobile number within 15 seconds of being requested, allowing the mobile IFAs to log into the eFonds service to execute financial transactions for their clients, wherever they are at the time.
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The use of TynTec's OTP service in this way provides security against cyber fraud when using these on-line financial tools to carry out transactions for clients. Every message sent is also tracked to ensure it arrives at the recipient handset, providing a full audit trail and complete accountability.
No financial details of the deal were announced.
((Comments on this story may be sent to tww.feedback@m2.com))
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