Copenhagen, Denmark, April 6, 2016 – Mistral Mobile (www.mistralmobile.com), a global provider of mobile solutions for the financial service industry, announces the launch of m-Aegis™ Secure OTP, a secure, out-of-band, two-factor authentication solution to replace the vulnerable SMS OTP (one-time password), as well as paper and token-based methods. m-Aegis™ Secure OTP addresses Android malware which are stealing and exploiting traditional SMS OTPs. The solution is provided as an SDK for integration into a financial services app with on-premises deployment for the highest level of security.
Two-factor authentication with SMS is widely used by financial institutions. This is far better than a mere password but also vulnerable. Trojan developers breach SMS OTP passwords with ease and traditional two-factor authentication cannot protect against them. There are many malicious apps available, each one scarier than the next.
Ludwig Schulze, CEO, Mistral Mobile says: “Our customers are worried about the increasing level of fraud targeting the plain-text OTP-based approach, and with m-Aegis™ Secure OTP, we offer a way to both secure the mobile apps and improve the users’ experience. With m-Aegis™ Secure OTP, we are pleased to add another solution to our portfolio to support securing mobile financial services applications to support user-friendly growth of mobile payments, banking and commerce based on our years of experience in the mobile industry.”
About Mistral Mobile (www.mistralmobile.com)
Mistral Mobile solutions unleash mobile devices for secure use in banking, payments and commerce. Mistral Mobile’s market-proven mobile front-end solutions are used by retail, issuing and acquiring banks and other financial service providers to offer secure and flexible solutions to rapidly introduce mobile payments, mobile banking and mobile authentication services independent of mobile operators and for all mobile phones, from smart to simple phones. Mistral has two solution lines:
• Money Mobility Suite™: The only bank-centric, telco & data independent, white-label mobile platform to reach the next billion consumers in the growth markets.
• m-Aegis™: The only comprehensive, multi-factor, telco-independent authentication and security solution for mobile applications and OTP replacement.
Founded by former Nokia Money leaders who believe in both the commercial and socio-economic benefits of mobile financial services globally. Mistral Mobile is privately held with offices in New York City, USA, Finland and India.
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