HSBC partnering with Authentify for secure online transactions

HSBC, the world's largest bank by assets size, implemented new services to automatically authenticate Internet users initiating certain transactions against HSBC accounts. Authentify, the global leader in out-of-band authentication solutions, is providing HSBC with the out-of-band authentication technology that requires user or transaction specific details to be entered via telephone, separately from the Internet side of the exchange.

Thus the procedure isolates the authentication from Internet threats which hampers account break-in even if the violator obtained compromised identity information. Peter Tapling, President & CEO of Authentify, notes that Authentify enables HSBC to validate the user and transaction details but keeps the process convenient for the end user. He adds that the telephone call made during online transaction enables reliability of the process.

The HSBC Group, headquartered in London, is the largest global financial services organization based on asset size. HSBC is one of five highest performers from the banking industry. HSBC Group serves over 125 million customers worldwide, with more than 10,000 offices in 83 countries.