SafeNet ViewPIN+

Increase Profits, Prevent Fraud, Save Trees with Web-based PIN Issuance

Agenda

Market and Product Overview

Market drivers

Pros and cons of PIN issuance methodologies

Cost and security advantages

Who can benefit

Technical Overview

How does it work?

Product Portfolio Placement

Topography

ViewPIN+ Cardholder Experience

Business Case

Egg Banking PLC

Market & Product Overview

Market Drivers

Increased margin pressures Security threats (external and Internal) Globalization Compliance

Market Drivers

Fact: The card and payment market is growing at approximately 10% a year WW & PIN mailers costs issuers millions

This means your cost is going to continue to rise.

Market Drivers

Fact: Hackers are becoming more sophisticated and identity theft makes up $45 billion of crime in U.S.

The cost per fraud increased 25%- $691/incident

Issues with traditional PIN issuanceMethod: Issues:

Paper-based PIN mailers 1) Delay in card usage

2) High cost

3) Highly insecure

Susceptible to angled-light attacks

Mail interception

ATM PIN selection 1) ATM susceptible to manipulation

Interactive voice response 1) Not easy to secure

Impossible to encrypt and travels over a public network

http://business.timesonline.co.uk/tol/business/money/consumer_affairs/article4259009.ece

What is SafeNet ViewPIN+?

A secure, web-based solution to:

Issue PINs to cardholders;

Remind cardholders of their PIN;

Have cardholders change their PIN.

From any web browser, PC-based or mobile phone based.

In essence, it is a secure credential delivery mechanism.

SafeNet ViewPIN+

Key Advantages:

Improves Profitability

Increases cardholder Satisfaction

More Secure

Environmentally Responsible

Proven

Revolutionizing PIN Issuance the ONLY fully automated, secure web-based PIN issuance and management solution on the market that delivers unprecedented cardholder satisfaction and costs savings by eliminating expensive, insecure and time-consuming paper based PIN delivery to cardholders.

2008 Best Solution in Finance

2008 Best e-Transaction Solution finalist

SafeNet ViewPIN+

Improves Profitability

Reduces operational costs, increases revenue, and saves resources for banks, credit card companies, and retail program-membership card issuers.

Supporting facts:

Paper PIN issuance costs an upwards of $1.50 per mailer due to the cost of phone support staff, paper, postage, and mail processing

Egg the world’s first cardholder to use ViewPIN

Reduced the number of cardholder requests for PIN reissues

Reduced the number of card reissuance for blocked PIN

Completely eliminated costly mailers

By increasing the security around PIN issuance, they will actually be reducing the cost per incident of $691/incident *source Javelin Group 2008

SafeNet ViewPIN+

Increases Cardholder Satisfaction

Easy to use and provides instant issuance of PIN at web browser to the end-user

Supporting facts:

Cardholders conveniently retrieve a PIN for a newly issued card in a single web session.

Involves an intuitive web-interface for self-service PIN management

Enables instant PIN retrieval, card will be top of wallet. In contrast, delivery of PINs via mail takes an average of 10 days, which could be 10 purchasing days a cardholder is using a competitor’s card.

SafeNet ViewPIN+

More Secure

Eliminates PIN-based fraud and far surpasses the security provided by paper-based PIN mailers or voice-based interactive systems

Supporting facts:

Eliminates PIN based fraud because it exceeds the security

Even the most recent online systems, such as interactive voice response (IVR), cannot be secured.

The encryption technology behind SafeNet’s ViewPIN+ is trusted by the world’s largest banks, government defense departments as well as Fortune 1000 companies

ViewPIN+ complies with PCI DSS

SafeNet ViewPIN+

Environmentally Responsible

An ecologically responsible alternative to sending PINs over the mail

Supporting facts:

Financial services and payment providers make up over 3% of an individual’s carbon footprint.

Besides lowering operational costs, converting mailers from paper to digital will drastically help financial service providers reduce their carbon footprint, as well as promote their green image

SafeNet ViewPIN+

Proven

SafeNet ViewPIN+ has been used by Egg for the last 4 years. It has a proven track record, a proven business case, and an exceptional availability.

Supporting facts:

ViewPIN was originally developed in conjunction with Egg Banking. Since development, they have had 100% up-time

Awarded 2008 Network Product Guide’s Best Solution in Finance

Finalist for 2008 Sesame award for Best e-Transaction Solution

Who can benefit?

Retail and commercial banking,

Wealth management,

Card issuers,

Large retailers that issue cards,

Mobile payments and GSM phone operators, and

Any organization that needs to issue credentials frequently.

Technical Overview

How Does It Work?

Uses the cardholder's desktop as a secure PIN delivery endpoint

Provides an end-to-end encrypted transaction through a secured web banking session.

Maintains separation between the cardholder identity and the PIN to protect against compromise.

Moves the PINs through internal systems without risk of staff access

Provides real time delivery of PINs

Integrates with PIN storage platform

Typical ViewPIN+ Deployment

ViewPIN+ Cardholder Experience

Cardholder enters bank web portal

Cardholder logs into bank account

Cardholder requests PIN

Cardholder retrieves PIN

ViewPIN+ Cardholder Experience

cardholder enters bank web portal

cardholder logs into bank account

cardholder requests PIN

cardholder retrieves PIN

ViewPIN+ Cardholder Experience

cardholder enters bank web portal

cardholder logs into bank account

cardholder requests PIN

cardholder retrieves PIN

ViewPIN+ Cardholder Experience

cardholder enters bank web portal

cardholder logs into bank account

cardholder requests PIN

cardholder retrieves PIN

… all in a matter of seconds− securely!

Egg Case Study

Egg Bank selects SafeNet

Challenge The world’s largest online bank. Wanted to send PINs efficiently, securely, and

in a manner to improve the overall cardholder experience

Needed a way to allow cardholders to securely obtain pins over the Internet

Traditional paper-based system was costly and posed risk

Solution SafeNet ViewPIN+ for secure PIN issuance,

which is secured by SafeNet Luna SP Hardware Security Module (HSM)

Benefits Quick implementation that improved

cardholder experience and provided Egg with a major competitive advantage

Improved profitability by reducing postage and PIN mailer expenditures, as well as cardholders were able to use their cards for purchases quicker

Secure PIN issuance solutions reduced the occurrence of credit card fraud from stolen PIN mailers

“Roll out of the Chip and PIN project has proven extremely beneficial to Egg, offering us a secure alternative to PIN mailers which is both cost effective and cardholder friendly,” Egg’s Lead Security Architect Stuart Horler