Online PIN generation for Banks, Telcos

by CXOtoday Staff    Nov 18, 2008

Information security company SafeNet has launched a web-based Personal Identification Number (PIN) generation solution that will enable banks and telcos to offer their customers online PIN generation services.

The solution termed SafeNet ViewPIN+ fully automates the issuance and delivery process of personal identification numbers.

According to SafeNet, despite growing economic pressures and rising incidents of PIN fraud, banks and other card issuers continue to mail millions of paper letters every day containing PINs and other sensitive data to their cardholders. Sending PINs through traditional mail is costly, time consuming, unsafe, and hurts the environment.

ViewPIN+, being a fully automated Web-based solution, eradicates paper mailers, helping save environmental resources and decrease the carbon footprint, according to the company. It also enables cardholders to instantly retrieve their PIN through the card issuer’s website via computer or mobile devices, SafeNet stated in its press release.

“Without paper, postage, and mail processing fees, we’re able to help banks and other card issuers secure their data, increase their profits, significantly reduce their customer calls requesting PIN reissues, and champion for a better environment,” said Rana Gupta, business head - India & SAARC, SafeNet India.

According to Safenet, ViewPIN+ protects the entire PIN management process from creation, issuance, and storage, to the on-demand delivery to the card issuer’s website. One of the key security components of is a certified Luna SP application security module, which has been applied across some of the largest banks, government defense departments, and Fortune 1000 companies.

SafeNet has a portfolio of security solutions aimed at payment processors, card issuers, acquirers, switches, merchants, leading banks, central banks, governments, and e-payment solutions providers. It has customers such as UBS, Lloyds, Egg, Bank of America, InstaPayment, First Data, Bank of Canada, Citibank, Barclays, the U.S. Federal Reserve and the U.S. Treasury among others.