"The Moscow credit bank" began to use the solution PayControl

2020: PayControl implementation

The Moscow Credit Bank (MCB) began to use the solution PayControl developed by SafeTech company, the resident of an IT cluster of Skolkovo Foundation. On June 9, 2020 the SafeTech company reported about it.

Clients of bank – legal entities and physical persons - when using mobile and Internet bank had an opportunity of confirmation of financial transactions on the mobile device.

The Moscow credit bank pays special attention to questions of ensuring quality of services of remote banking and also their security. From the beginning of a pandemic of a coronavirus of COVID-19 cyberswindlers repeatedly increased number of the attacks on users of remote services. With respect thereto the management of MKB made the decision to lift a priority of projects in information security field and to accelerate implementation in digital channels of the solution for safe confirmation of transactions and the signature of electronic documents.

Main objectives which were set before itself by bank during the project:

• providing to clients of a possibility of fast and convenient formation of the signature using the mobile device;
• ensuring the maximum level of safety of transactions for protection of money of clients;
• minimization of finance costs in comparison with the technologies of confirmation of transactions used earlier.

These and many other tasks were implemented by means of the platform of mobile authentication and the electronic signature PayControl from the resident Skolkovo of SafeTech company.

For MKB implementation of the PayControl platform in mobile and Internet bank for service of physical persons and legal entities allowed to increase security of transactions even more.

The implementing solution PayControl in digital channels of service of physical persons and legal entities will allow clients of MKB to make financial transactions:

• on the smartphone without use of additional devices (tokens or smart cards, password generators);
• without manual entry of details of payment and confirmation codes;
• without delays and canceling of the transactions connected with waiting or nondelivery of the SMS and Push-notifications;
• one movement of a hand on the smartphone screen.

Main advantage of PayControl in comparison with traditional methods of payment confirmation, in particular, the one-time password in the SMS or the Push-notification, that the confirmation code of transaction forms directly on the mobile device of the client. The code becomes attached to details of transaction, and even its interception by swindlers will not lead to theft of funds from the account. Use of PayControl allows to resist to the most relevant attacks on clients: to social engineering, interception of disposable confirmation codes in the SMS and Push, to use of the harmful software on computers and mobile devices of users.

In addition to "basic" functionality of the PayControl platform opportunities became available to clients of MKB:

• an input in "personal account" of the client without input of the login and the password by the QR code;
• display and the signature of electronic transactions in interactive notifications on the mobile device;
• support of the smartwatch, including Apple Watch.

Also there was a possibility of the "group" signature of transactions that significantly increased convenience of work of clients – the legal entities making a set of transactions. In this case the user consistently browses details of several transactions, once presses the sign button, but the mobile electronic signature forms separately for each transaction.

Problems of cardinal increase in security of the systems of the remote banking (RB) in the conditions of a pandemic of a coronavirus became relevant, more than ever. All banks observe considerable surge in attempts of fraud in remote links. MKB took preventive measures and implemented that it seemed impossible earlier: in one month implemented the mobile electronic signature for service of legal entities and physical persons. We are glad that our solution showed the advantages of embedding in the RBS systems that allowed bank to ensure not only safety, but also to increase convenience of work of clients.