Secure Transaction Signing

OneSpan Cronto solutions strenghten protection against account takeover and phishing attacks as well as banking Trojans, Man-in-the-Middle (MitM), and Man-in-the-Browser (MitB) attacks.

Cronto solutions create a unique electronic banking signature for each transaction using details such as account numbers, transaction amounts or any other text or messaging the bank wants to send. This solution preserves data integrity and ensures authenticity, rendering any changes made to a transaction after it has been electronically signed, invalid.

One of the biggest challenges in combating social engineering is educating and guiding the banking customer to recognize a scam before being tricked into authorizing fraudulent transactions. 

By deploying OneSpan Cronto solutions, the bank is in charge of the authorization process, and the trust decision is taken out of the user’s hands. Only the bank can initiate the creation of a Cronto code, and only the intended recipient’s device can scan the code. All data is encrypted and the secure communication channel ensures message authenticity – the transaction authorization request originates from the bank. In addition, banks can decide to visually alert their customers of high-risk transactions.

Cronto solutions work perfectly together with OneSpan’s Intelligent Adaptive Authentication Solutions. By combining solution stacks, banks can dynamically detect fraud, calculate risk scoring, and apply the right level of authentication for each unique transaction in real time.