Future is the past? Back to cheap authentication...

It might have something to do with SocGen's value dropping by 84%. Also, SocGen is not exactly a reference to use when it comes to security. I'm not sure that it gives a good image to replace an 'expensive' OTP device with a bingo-like card grid. But it should work for SocGen if they need to drastically cut cost.

It could be the first sign of the credit crunch reaching into the otherwise insulated retail banking/security markets. Will other banks cut back in the same way, I wonder?

The trend that I have seen so far is that crime has become more rampant and banks are more aware that they need to provide confidence and security. A bank's bottomline is now directly affected. Banks will have to weigh the cost and benefit of any system or solution. I think it's going to be a very interesting and challenging period for security providers. It is in this kind of 'climate' that efficient systems and solutions will thrive.

Folks,

This is the start of us getting rid of the OTP token, I hope.  They are expensive, don't do a particularly good job, and get lost or run out of juice.

By comparison there are cost effective methods of remote authentication, even remote transaction specific auth, which don't require additional hardware, or in one case even software to be deployed to the customers!

Server based systems, or mobile devices have to be better for all involved.

Neil