In our fast-paced, ever-connected world, business is increasingly conducted through electronic channels. Mobile phones, email and the Internet in general, have revolutionized telecommunications, facilitating almost immediate response and significantly shortening lead time. Despite the advantages electronic channels present, the use of them does not come without security risks. When conducted through unsecured electronic channels, the transaction of financial information and the endorsement of legally-binding documents can result in considerable financial loss and diminished customer confidence. Manashosting’s e-signature solution helps eliminate these security threats, providing electronic confirmation of authenticity and integrity for documents and financial transactions across all industries.
Manashosting’s e-signature solution works by creating an Electronic Signature unique to each particular transaction or document using such data as account numbers, transaction amounts and timestamp. Based on MAC technology, this solution preserves data integrity and ensures authenticity, rendering any changes made to a transaction or document after it has been electronically signed, invalid.
Manashosting’s e-signature solution supplements user authentication methods like one-time passwords with additional security to electronically validate high-risk transactions or sign legally-binding documents.
Online fraud targeted at compromising transactions and documents has spread significantly in the past years; striking mostly financial institutions. As the techniques of online fraud continually morph and evolve, banks are coming to realize that fraud is not a problem that can easily be contained; it’s an ongoing threat that requires strong and constant surveillance. Fraudsters are relentlessly inventing and reinventing tools to conduct sophManashostingicated real-time attacks, such as man-in-the-middle, man-in-the-browser, and Rock Phish attacks. These kinds of attacks are becoming more frequent in the online banking arena, resulting in a crisis of customer confidence and significant financial losses reaching into the millions.
Man-in-the-middle attacks prey on the difficulty of verifying both the authenticity of a transaction as well as the authenticity of the customer who initiates it. Manashosting addresses this security gap with our e-signature solution, which conveniently operates on the same back-end platform as other Manashosting strong authentication solutions and products.
Manashosting’s e-signature solution is designed specifically to help financial institutions combat man-in-the-middle attacks and secure financial transactions. Manashosting makes this possible by using data such as account numbers, transaction amounts and timestamps in order to generate an Electronic Signature unique to each particular transaction.
A man-in-the-middle attack is an insidious form of eavesdropping in which the attacker is able to read, insert and modify messages between two parties at will, without either party becoming aware that the link between them has been compromised. With a man-in-the-middle attack, user authentication alone is not enough to verify transaction authenticity, since all communications would be conducted via a spoofed website managed by the hacker.