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Cloud Based Authentication Solutions Implemented By BancoEstado in Chile

BancoEstado has selected Entrust to provide cloud-based authentication solutions for mobile and online banking customers and cloud-based instant debit card issuance for a more scalable business operation, and a more trusted, frictionless customer experience.

With more transactions moving online and as consumers become increasingly accustomed to on-demand experiences, banks like BancoEstado are rising to the challenge by moving their operations to the cloud.

“We strive to deliver services that go beyond customer expectations, with a focus on financial inclusion and digitalisation. Entrust has helped us deploy technologies that better position us to meet these goals in two key areas – mobile and online banking services and instant card issuance. Adopting mobile and online customer authentication allows us to provide frictionless and secure access to our digital banking services, and offering new contactless chip-enabled debit cards in branch helps us fill our customers’ needs quickly,” said Eduardo Concha Concha, manager of technological architecture and CORE development of BancoEstado. “Implementing these solutions via secure, trusted cloud services has allowed us to scale our operations up or down depending on business needs, while offering a seamless experience for our valued customers and improving our data security posture.”

One of the largest banks in Chile, BancoEstado boasts more than 14 million customers across its 500 branches. On average, the bank issues between 20,000 and 24,000 financial cards per day, now with more than 10+ million users on its mobile app.

“With such a large and growing operation, BancoEstado had a vision to move its operations to the cloud to achieve more scalability, security and simplicity. Entrust was well positioned to support these goals — quickly and at scale. In fact, we helped them deploy the first cards within 45 days of our initial conversation,” said Tony Ball, senior vice president and general manager, instant issuance at Entrust. “We are extremely excited to be able to support BancoEstado in this way.”

Anywhere, anytime high-assurance authentication

In addition to moving operations to the cloud, BancoEstado also made the decision in late 2019 to migrate 6.5 million mobile banking customers from their existing on-premises Entrust authentication solution to Entrust Identity as a Service (IDaaS). IDaaS is a high-assurance cloud-based authentication solution that helps protect the identities of workers, consumers and citizens to ensure secure access and communications.

“We worked closely with BancoEstado’s technical team to quickly migrate all 6.5 million customers from an on-premise solution highlighting IDaaS’ speed and simplicity of deployment,” stated Cindy Provin, senior vice president and general manager, identity and data protection at Entrust. “As BancoEstado continues to onboard hundreds of thousands of mobile users, IDaaS has proven its ability to scale and keep pace with this thriving bank.”

IDaaS provides a strong foundation for online banking, mobile apps, cardless kiosks and other digital offerings – a true seamless and secure omnichannel customer experience based on one trusted identity.

Meeting customer expectations with instant financial card issuance

Entrust instant card issuance systems enable banks to offer fully activated, ready to use bank cards to customers on-site and on-demand. Solutions include cloud-based or on-premises card personalisation and activation software, high-quality desktop card printers and embosser and a suite of services for monitoring devices, managing supplies and supporting users remotely and onsite.

Author

  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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