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LuxTrust to roll out new security app
Economics

LuxTrust to roll out new security app

16.10.2015 From our online archive
LuxTrust is to launch a new smartphone app as an alternative to its security token, with the first bank to deploy the app in weeks.

(JB) LuxTrust is to launch a new smartphone app as an alternative to its security token, with the first bank to deploy the app in weeks.

The LuxTrust token device was launched to make online transactions with all main Luxembourg banks more secure.

When making electronic transactions, the bank sends the token a six-digit figure, enabling the user to verify themselves and access their account.

Customers will soon be able to choose another option - the LuxTrust app, which will be available on smartphone and tablets (iOS and Android).

The app enables people to scan a QR code containing the the details of an operation in order to generate a "One Time Password" (OTP). This OTP can be used as a method of authentification or for a signature.

The operator is negotiating with its banking partners to find a way for them to off offer free access to customers, by offering it in the package of banking services.

One bank has already preparing to deploy the app and it is expected that others will follow.

Holders of the LuxTrust token will still be able to use the device in future, the company said.

LuxTrust ultimately expects to roll out the new digital app solution to banks in Belgium, France and even Germany.

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