Home News & events Press Releases 2007 Compass Plus participates in NOMOS-BANK project

 

Nomos-Bank-engCompass Plus in collaboration with partners Gemalto, VASCO Data Security and VISA participated in the NOMOS-BANK project concerned with building of a new generation remote NOMOS-Link service based on EMV DPA technology.

NOMOS-Link uses cryptographic protection technology that allows NOMOS-BANK chip card holders perform secure banking operations via remote banking channels. When a customer applies for the Internet banking service he receives special card reading device – cryptocalculator. When the cardholder inserts the card into the device and enters the PIN a one-time unique password is displayed on the device’s screen which then can be used for customer identification when he accesses the Internet bank and for confirmation of the online banking operations. To date this is the only technology on the market that thanks to the guaranteed protection of the customer-bank communication channel offers near to complete protection against fraud and enables organisation of a safe Internet banking system.

At the NOMOS-Link service presentation senior vice-president at NOMOS-Bank, Natalia Matunina stated: “NOMOS-Link can revolutionise the traditional payments market: from one side, there is a steady rise in the number of banks offering remote banking – from 16 percent amongst all banks in 2005 to 29 percent this year, from the other side, consumers are more and more interested in a convenient remote service - 30 percent of customers in Moscow and 10 percent in other regions are actively using remote banking service. The growth of interest in the service is constrained by fraudsters activities that our new service is called to neutralise”.

NOMOS-Bank and their technological partners are the first companies to launch a product based on the EMV CAP technology in Russia as well as in the CEMEA region, said Oliver Hughes Head of the VISA International Representative Office in Russia.

NOMOS-BANK’s Internet banking system (built on TranzWare e-Bank from Compass Plus) works in a 24/7 mode and allows to pay for services of mobile service providers, ISPs, cable/satellite TV providers, public utility companies as well as enables transfers between accounts and setting up payment schedules that the system can use to automatically execute payments based on the parameters supplied by the bank customers. The system does not require installation of any special software and therefore, allows to perform banking operations at any point of access to the Internet.

NOMOS-BANK is amongst the top 20 largest banks in Russia and has Principle member status in both VISA and MasterCard. Since 2001 the Bank has been using its own processing centre built on TranzWare software products and currently has 170,000 cards in circulation. NOMOS-BANK has installed over 300 ATMs and its acquiring network is comprised of over 620 retailers.