Case Study: Riyad Bank strengthens online banking security with OneSpan authentication solutions

Riyad Bank ends transaction disputes overnight with OneSpan

Riyad Bank, a leading financial institution in Saudi Arabia, needed to implement a best-of-breed authentication solution to secure its online financial transactions for both corporate and retail customers. The bank sought a high level of security that also emphasized usability and flexibility to protect against increasing internet fraud and to boost customer confidence. To meet this challenge, they partnered with vendor OneSpan.

OneSpan implemented its Digipass 260 authenticators and the OneSpan Authentication Server Framework to provide strong two-factor authentication. The results were immediate and significant; customer complaints about fraudulent transactions ceased overnight, eliminating the need for lengthy investigations. The solution boosted customer confidence, became a competitive advantage that attracted new customers, and reduced costs by allowing customers to securely complete more procedures online without helpdesk assistance.

Riyad Bank