EmueInnovative technology to address enterprise VPN authentication, card not present fraud and identity theft |
Online banking and ‘card not present’ fraud is rising exponentially, with plastic card fraud losses up 14% to £301.7m and online banking fraud losses up by 185% to £21.4m in 2008*. Losses from phone, internet and mail order shopping fraud also continue to increase year-on-year and now stand at £161.9m, 54% of all card fraud loss*.
Deloitte has been exploring new and innovative ways to assist our clients in tackling this type of fraud to reduce identity theft and the significant associated costs. In a first for Deloitte, we have been working with Emue Technologies to offer an innovative suite of authentication products to address enterprise VPN access, card not present (CNP) financial fraud and identity theft.
Deloitte identified and brought the prototype technology to Europe in early 2006 as part of our innovation agenda. We have been helping shape and refine the concept since then and introduced it to the major EMEA banks as part of this process. We now act as the main European reseller of the technology, systems integrator and are involved in all the key pilots underway.
So what is Emue?
The technology can be distributed on mobile phones; embedded within proximity-based identification badges; and also the world's first credit/debit card with an embedded micro-processor, alpha-numeric display, battery and 12 button keypad. This means that consumers don’t have to carry additional security devices such as tokens.
The technology provides both consumers and companies with unprecedented choice, convenience and security. What's more, the technology integrates with a client's existing systems meaning that ownership costs are marginal resulting in potential for significant cost reduction in this area from a converged device.
In fact, the technology can be used for:
For more information, please contact Simon Owen or James Nunn-Price.
Related information:
An interview with Brendan McKeegan, CEO at Emue discussing the Deloitte and Emue card
Four banks to trial Visa PIN code cards - Finextra.com
Visa trials PIN payment card to fight online fraud - The Register.co.uk
Leading banks join pilots of the innovative Visa Card with one-time code - Visa news release 4 November 2008
Emue website
* Source: APACS
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