HSBC in Hong Kong Deploys VASCO's Digipass GO3 for Enhanced Security

Strategic Insights -

HSBC in Hong Kong has launched a comprehensive security initiative by distributing VASCO's Digipass GO3 Strong Authentication device to its retail Internet banking customers. This move aims to protect them against phishing and other online fraud threats. With over 870,000 Internet banking customers, HSBC is the largest Internet bank in Hong Kong, serving over 60% of the online banking users in the territory.

Key Takeaways:

  • HSBC in Hong Kong has begun distributing VASCO's Digipass GO3 Strong Authentication device to its retail Internet banking customers to enhance security against phishing and online fraud.
  • The deployment of Digipass GO3 marks the first time a bank in the Greater China area has offered this level of security to all its retail Internet customers.
  • HSBC has over 870,000 Internet banking customers, making it the largest Internet bank in Hong Kong, serving over 60% of the online banking users in the territory.
  • VASCO's Digipass GO3 is a user-friendly, two-factor authentication device that provides a secure One-Time Password (OTP) which cannot be re-used by hackers.
  • HSBC plans to roll out Digipass to all onlinehsbc customers in Asia, emphasizing the bank's commitment to providing enhanced security and convenience to its customer base.
  • Jan Valcke, VASCO's President and COO, states that VASCO will spare no effort to make the project a success, acknowledging HSBC in Hong Kong's groundbreaking decision to lead the battle for secure online banking in Asia-Pacific.

Statistics:

  • HSBC has over 870,000 Internet banking customers in Hong Kong.
  • The bank serves over 60% of the online banking users in the territory.
  • VASCO has sold and delivered over 15 million Digipass products in the market.
  • Approximately 370 international financial institutions and around 1,700 blue-chip corporations and governments use VASCO's user authentication software in over 80 countries.

Sources:

  • HSBC in Hong Kong (http://www.hsbc.com.hk)
  • VASCO Data Security International, Inc. (Nasdaq: VDSI) (http://www.vasco.com)
  • PRNewswire-AsiaNet
  • Asia Pulse 16-06 0949