VeriSign Technologies secures HSBC group

HSBC group in the United Kingdom is into increasing its banking security by means of VeriSign technologies. It will protect consumer online identities. According to VeriSign the bank uses its extended validation (EV) SSL certificates. As we know Extended Validation SSL Certificates were created in direct response to the rise in Internet fraud, eroding consumer confidence in online transactions. In 2005, 84% of respondents to a Forrester Research study said they don't think retailers are doing enough to protect their customers online and 24% did not make purchases online due to security concerns. Before customers share their confidential data online, they want proof of identification from a trusted source. The Extended Validation SSL Standard raises the bar on verification of SSL Certificates and enables visual displays in high security browsers.

On the site of VeriSign we find the following explanation of the EV SSL working principle:

"Extended Validation SSL Certificates give high security Web browsers information to clearly identify a Web site's organizational identity. For example, if you use Microsoft® Internet Explorer 7 to go to a Web site secured with an SSL Certificate that meets the Extended Validation Standard, IE7 will cause the URL address bar to turn green. A display next to the green bar will toggle between the organization name listed in the certificate and the Certificate Authority (VeriSign, for example). Firefox and Opera have announced their intention to support Extended Validation SSL in upcoming releases. Older browsers will display Extended Validation SSL Certificates with the same security symbols as existing SSL Certificates."

HSBC IT security senior manager Barry Jones states: "Deploying VeriSign extended validation SSL certificates will allow us to send an instantly recognisable signal - the reassuring green bar - to our online banking customers, confirming that any personal information they supply on that page will go directly to HSBC and no one else."