A Highly Innovative and Secure System for Remotely Accessing Bank Accounts

Financial fraud is big business and the cyber-threats are only increasing in sophistication. Large financial institutions, such as banks and investment houses, typically have robust security operations which are being constantly monitored by professional teams and are protected by multiple layers of hardware and software protection. However, one of the critically weak links in the chain is remote access by account holders who use their computers at home, at work or using a mobile device.

Banks have no control over the computer hardware that their clients use and many of these are infected by malware, or subject to attack when connecting to their bank. Sessions can be hijacked, account logon pages can be spoofed (phishing) and keyloggers (Trojan horses) can comfortably record all of a user's logon and password information. Hackers can then change the account holder's instructions by changing the amount and destination of a transfer.

Walletex's Game Changing Secure Solution

Walletex has developed a unique solution, based on its credit card-size USB platform, that completely neutralizes many of the standard threats. Standard bank security is a patchwork of responses that are added to existing systems every time a new threat is isolated. There is an ongoing battle of minds between developers who erect walls around their data only for hackers to gain access. Current solutions offer protection to the user's computer, but up until now, and for the foreseeable future, hackers will always be able to find a weakness.

Walletex's BankCard, the size of a credit card, incorporates a microprocessor and all sensitive transactions are carried out on the card before being encrypted and transmitted to the computer. The computer only ever receives encrypted data, and due to Walletex's advanced security features, hackers cannot access the card. In this way, Walletex has effectively ended the battle, by moving all the transactions to a protected space.

Read more to learn how the solution is implemented on Walletex's card.

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