From the News Wire

2008-06-30

Todos wins award for CTCB’s SMS authentication

Chinatrust Commercial Bank Taiwan has won the Enhanced Internet Bank Security Program OTP award for their user-friendly Todos eCode setup. CTCB, with more than one million online users, rolled out Todos bySMS in June 2006.

GOTHENBURG, SWEDEN AND TAIPEI, TAIWAN—JUNE 30, 2008—Todos bySMS is a patented OTP verification system that leverages the consumer’s mobile phone. The system consists of a specific online eCode generation system operated by CTCB and an SMS gateway plug-in, which mitigates both phishing and man-in-the-middle attacks by using two separate channels – online and offline – for data transaction.

Ove Wedsjö, CEO at Todos, comments: “Todos bySMS is the pinnacle of user-friendly eBanking authentication and is proof that you can indeed combine high security levels with happy end-users. The flexibility of our eCode system has put many banks, such as CTCB, in the market’s driver’s seat with truly future-proof solutions.”

Peter Wei, Senior vice-president at Chinatrust Commercial Bank, said: “Chinatrust Commercial Bank devotes itself to high standard on-line security with a user-friendly manner. We are delighted to receive this award.”