Operations in digital channels for Uralsib individuals will be confirmed by mobile electronic signature

2022: Using PayControl for Individual Transactions

On June 7, 2022, the company SafeTech announced that now all transactions of individuals Uralsib in Online will be confirmed by mobile, electronically signed PayControl developed by SafeTech. Bank completely refused confirmation through SMS and push notifications.

Uralsib is a universal federal bank offering financial services for private and corporate clients. The project to improve the security of the bank's digital channels was supposed to solve several problems at once.

• Ensure that transactions are confirmed safely.
• Optimize financial transactions using a smartphone, make them faster and more convenient for customers.
• Reduce the bank's costs for confirmation technologies.

To ensure the high quality and security of services remote banking service , the transaction confirmation technology from SafeTech was chosen. authentications The PayControl mobile and electronic signature platform was developed by SafeTech, a resident. IT cluster Skolkovo Foundation

Thanks to the implementation of PayControl in mobile and Internet bank, Uralsib customers received quick and safe confirmation of financial transactions through Uralsib Online:

• confirmation is made on a smartphone without using tokens, smart cards or password generators;
• You do not need to manually enter payment details and confirmation codes.
• no need to wait for SMS and push notifications;
• simple confirmation with one movement of the hand on the smartphone screen.

The transaction confirmation code is formed directly on the client's mobile device, this is a feature of PayControl compared to the traditional method of confirming payments - a one-time password in SMS or push notification. The code is tied to the details of the transaction, and even if it is intercepted by scammers, the money in the account will remain safe. PayControl is equally effective against intercepting one-time confirmation codes from SMS and push notifications, and against malicious software on users' computers and mobile devices.

"The integration of PayControl with the internal anti-fraud systems of Uralsib provides proactive protection of each client from fraudulent actions. At the same time, the bank's clients also received a technological solution, which is easier than SMS and push codes, "- noted Dmitry Naranovich, Head of the Department of Digital Services and Channels.

"The issue of ensuring the safety of transfers of individuals is one of the rather acute. Since clients are already much less confirmed by social engineering, fraudsters began to resort to other technical and software methods of embezzlement of funds. And here our decision gives banks the opportunity to ensure the safety of their customers, while reducing confirmation costs, "- says Daria Verestnikova, commercial director of SafeTech.

2020: Implementation of PayControl

The mobile platform authentications electronic signature PayControl developed by the SafeTech resident company Skolkovo Foundation IT Cluster is implemented in the mobile and - Internet bank for legal entities of the Bank. Uralsib Corporate clients of the bank were able to easily and securely confirm financial transactions on their mobile device. This was announced on June 30, 2020. Skolkovo Foundation

Modern digital channels of Bank Uralsib for servicing legal entities are built on the basis of platform remote banking service iSimpleBank 2.0 developed. iCAM Group At the same time, a single frontal environment, including Internet the -bank and, mobile application is the decision of another resident of the Skolkovo Foundation of the company. Abanking

The main objectives of the project to improve the security of digital channels:

• enabling customers to quickly and conveniently generate an electronic signature using a mobile device;
• ensuring the required level of transaction security,
• minimizing financial costs compared to previously used signature technologies.

The implementation of the PayControl platform for confirming transactions and signing electronic documents in digital service channels for legal entities has allowed us to improve the security of transactions. At the same time, the implementation of the project not only secured the accounts of our customers, but also made working in a mobile and Internet bank easier and more convenient.

The implementation of the PayControl solution in mobile and Internet banking for legal entities provided Uralsib Bank customers with the opportunity to perform financial transactions:

• on your smartphone without using additional devices (tokens or smart cards, password generators);
• without manually entering payment details and confirmation codes;
• without delay or cancellation of operations related to the waiting or non-delivery of SMS messages and Push notifications;
• with one movement of the hand on the smartphone screen.

The main advantage of PayControl over traditional methods of confirming payments, in particular, a one-time password in SMS or Push notification, is that the transaction confirmation code is generated directly on the client's mobile device. He is tied to the details of the transaction, and even his interception by fraudsters will not lead to the theft of funds from the account. PayControl effectively counters the most current attacks on customers: interception of one-time confirmation codes in SMS and Push, as well as use harmful software on computers users' mobile devices.

The security of remote banking systems is becoming an increasingly relevant topic. Thanks to the transition to the use of mobile signature of transactions and documents, Bank Uralsib was able to minimize problems related to customer safety. Moreover, the use of a mobile signature allowed the bank not only to ensure security, but also to increase the convenience of the work of legal entities and contribute to increasing their activity in digital service channels.

The introduction of the PayControl platform at Uralsib Bank was a vivid example of a balanced and thoughtful policy of using innovative technologies in credit and financial institutions. The high level of technologies of Skolkovo residents developing solutions for the Russian financial sector allows banks to effectively achieve the goals of the projects being implemented, to provide customers with the necessary amenities and security, while reducing their costs.