Saving cost by the flexible use of Open Source
Online banking is supposed to ease the life of bank customers. But online banking is also supposed to ease the life of the banks and is supposed to help them to save money. All workflows, that can get automated and do not need interaction with a bank employee, help to save money. Online banking also needs to be easy to understand. If online banking does not work right or is difficult to use the bank will have new expenses. This time the cost arise at “support” and “customer services”.
Other cost arise from sending EC-cards, iTAN lists or SMS to the customers. Every customer has different problems arising from TAN implementation and complicated workflows. The EC-card with the flickercode is not well accepted by the end user.
iTAN and SMS (mTAN) had some serious security issues which were reported by the press recently.
Now you have the possibility to use techniques from authentication business including one time passwords. Especially the OCRA algorithm is perfectly suited to secure banking transactions.
Carefully chosen workflows and algorithms help to reduce cost and increase security. If needed open source software can be used to further reduce cost and in oder to gain a better possibility for indepth auditing. Furthermore, open source provides security against back doors – provided the source code is properly inspected before use.
NetKnights can help you with their extensive IT security know how to find the perfect solution to fit your special case.