Made in IBM Labs: Two-Factor Security for Mobile Transactions
ZURICH – 18 Oct 2013: IBM scientists have developed a new mobile authentication security technology based on the radio standard known as near-field communication (NFC). The technology provides an extra layer of security when using an NFC-enabled device and a contactless smartcard to conduct mobile transactions, including online banking and digital signatures when accessing a corporate Intranet or private cloud.
According to a recent report by ABI Research, the number of NFC devices in use will exceed 500 million in 2014. This statistic and the fact that 1 billion mobile phone users will use their devices for banking purposes by 2017* make for an increasingly opportune target for hackers. (more…)