MobiClear Technology Fights Online Banking Fraud

By Anuradha Shukla

TMCnet Contributing Editor

 

MobiClear’s proprietary personal identification verification (PIV) technology is being used during online bank transactions. Thanks to MobiClear's Internet Bank, commercial banks can offer their clients another layer of online banking security through the use of a unique MobiClear PIN required to approve any transaction.

The development of this product places MobiClear in a favorable position to benefit from the growing trend toward online banking. The company believes that by providing this solution those weary of conducting online banking transactions will be put at ease. This will trigger an increase in overall transactions and MobiClear believes this shift in consumer's attitudes makes the company's product line attractive to commercial banks.

“With the alarming rate of online fraud and internet-based identity theft, the application of our technology to the online banking industry is the perfect solution to this global problem,” said Anders Ericsson (News - Alert), chief executive officer of MobiClear in a statement.

Ericsson explained that they have designed this user-friendly interface to create the optimal amount of security for any transaction and said that by offering customers more control over their online banking needs, they are bridging the gap for those bank clients whose safety concerns have prevented the use of this service.

MobiClear was in news earlier this month when they entered into a partnership agreement with Bastion Payment Systems Corporation to market and launch MobiClear’s line of security products in the Philippines and Asia, paying particular attention to the e-commerce sector.

MobiClear, specializes in electronic Personal Identification Verification (PIV) solutions in connection with credit/debit card transactions.

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Anuradha Shukla is a contributing editor for TMCnet, covering call centers, CRM and information technology. To see more of her articles, please visit her columnist page.