Implementing technologies for digital financial transaction signing on a mobile device into the Ak Bars Bank remote banking systems

«We set high requirements on all remote services of the bank. This is especially true for transaction security and the convenience of customer service. The PayControl software package meets our expectations. The introduction of this technology by our long-time partner SafeTech will help develop the services demanded by our customers, increase the number of bank users, and increase their satisfaction level with banking services».

Tatyana Nurieva,
Head of Remote Banking Development Department
Ak Bars Bank

The project background and objectives

Being one of the most technologically advanced Russian banks, Ak Bars Bank traditionally pays great attention to digital customer service channels. In the corporate service segment, the Bank is constantly improving its remote banking services and provides user-friendly and secure environment for customers on both desktop computers and mobile devices. In the development of its systems, the Bank started searching for technologies allowing generation of digital signatures to authorize transactions and documents directly on a smartphone or tablet.

The main criteria for choosing a solution were:

• quick and easy signature generation process with a mobile device;
• ensuring a given level of transaction security;
• minimizing of financial costs compared with previously used digital signature tools.
• The analysis of solutions available in Russian market resulted in the choice of the SafeTech PayControl mobile authentication and digital signature platform.

Solution description

PayControl is a digital signature solution for smartphones that allows customers to confirm their transactions in any digital channel (online banking, mobile banking, CNP operations, telephone banking (Private bank), and others) with a high level of security and convenience. It can work as a standalone application for a smartphone, or can be integrated directly into a mobile banking application.

The main advantage of PayControl compared to traditional payment authorization methods (i.e., a one-time password via SMS or Push notification) is that the transaction confirmation code is generated directly on the customer’s mobile device. The code is tied to the transaction details, so its interception will not help fraudsters steal funds from the account.

Project features

To its advantage, PayControl was already integrated into the BSS platform for creating remote banking services implemented at Ak Bars Bank. PayControl integration made it possible to securely authorize banking operations using a mobile device in two systems: in the Online Bank service and in the mobile business client.

Results and business effect

PayControl integration made it possible to securely authorize banking operations using a mobile device in two systems at once: in Ak Bars Business Online and Ak Bars Mobile services. At the time of transaction authorization, customer sees all the payment details on the screen of the mobile device: number, transaction amount, date, recipient account, and has the ability to verify their correctness.

Implementation of technologies for financial transaction digital signing on a mobile device in online banking and mobile business client allowed Ak Bars Bank to attain the following results:

• allow for mobile users to fully manage their accounts and perform necessary operations anytime, anywhere right on a smartphone;
• increase the number of transactions via the mobile business client by 12%;
• reduce the transaction security costs in remote banking systems for corporate customers by 15-20%.