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Volkswagen Bank Secures Mobile Transactions and Meets PSD2 Requirements with OneSpan’s Mobile Security Suite

OneSpan™, a leader in software for trusted identities, e-signatures and secure transactions, today announced that Volkswagen Bank, a wholly owned subsidiary of Volkswagen AG, has implemented OneSpan’s mobile application security to protect the bank’s financial transactions and help ensure PSD2 compliance while enabling a positive customer experience. 

OneSpan used its mobile SDK, Mobile Security Suite, to develop and protect PhotoTAN-App, a standalone mobile authentication app solely for Volkswagen Bank. PhotoTAN-App communicates directly with Volkswagen Bank’s mobile banking app and is used to sign transactions initiated either online or via a mobile device. The app also integrates Mobile Security Suite to enable app security including biometric authentication, application shielding and Cronto® technology.  

OneSpan’s Cronto solution enables the bank to comply with the PSD2 authentication and dynamic linking requirements. This patented visual transaction signing solution does so using a graphical cryptogram made of coloured dots to encrypt transaction details, which can only be read by a trusted device. The solution helps banks counter account takeover as well as banking Trojans such as man-in-the-browser attacks by establishing a secure connection between the device and the bank.  

OneSpan’s technologies help protect users from account takeover and mobile malware attack losses while improving the customer experience 

“The financial industry is changing rapidly as the result of higher customer demands, the move to mobile and new regulations,” said Volkswagen Bank Project Manager, Mario Bandau. “OneSpan has proven to be knowledgeable in all areas, providing us with the necessary advice and the solutions we need to deliver the kind of experience customers request while ensuring PSD2 compliance,” added Volkswagen Bank Project Manager, Andreas Feller. 

“With PSD2 coming into effect in September, our customers have been turning to us for expertise and innovative solutions,” said OneSpan Senior Vice President of Global Sales, Dan Dica. “Cronto is a unique technology available in the market in that it combines security and support for regulatory compliance with a seamless customer experience. This combination is important because it enables our customers to advance their digital transformation easily and securely.” 


  • Editorial Director of the The Fintech Times

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