Sweden's FöreningsSparbanken has placed an order with security outfit Vasco for 400,000 Digipass 260 authentication tokens which will be offered to customers connecting to the bank via the Internet and telephone.
FöreningsSparbanken is Sweden's largest Internet bank, with approximately 1.6 million customers. An additional two million customers use the bank's telephone banking application.
Jan Valcke, Vasco's president and COO hailed the order as evidence that banks's are prepared to update security for customers transacting remotely.
"Recent fraud attempts have abundantly proven that the use of static passwords is unsafe in an Internet banking environment," he says.
Recently, FöreningsSparbanken has started an application for physically disabled and visually challenged customers, including Vasco's Digipass 300 Comfort.
News of the deal comes as the vendor reports a 32% hike in third quarter revenue to $7.4 million, up from $5.6 million in 2003, and net income for the quarter of $1.15 million, against a loss of $2.5 million in the equivalent period.
Separately, Vasco has also launched Vacman Middleware 2.3, the latest version of its server product for the corporate network access market, featuring a range of new administrator-friendly operating features.