By Cyber Era NG Special Correspondent
A world leader in the digital banking and payments platform industry CR2, has formed a technology partnership with Entrust, a leading enabler of trusted identities, payments and digital infrastructure. This partnership will provide CR2’s bank customers with a secure, seamless digital payment experience.
In recent years, there has been a dramatic increase in digital banking payments worldwide. While this has given banks and their customers greater flexibility and more banking opportunities, it has also accelerated the possibilities of fraud. To mitigate these risks, many banks have invested heavily in improving their security offering to customers.
Through the technology alliance partnership, CR2 will leverage Entrust tokenization and NFC payment solutions providing a fully comprehensive digital payments offering. CR2 bank customers will be able to seamlessly access digital tokens with unique numbers to replace sensitive card data for enhanced security. Cardholders will also be able to manage the token lifecycle (view, suspend, resume or delete tokens). This allows banks to offer a secure and unique digital banking experience.
In addition to enhancing security, Entrust enables CR2 to bring more convenience and self-service capabilities to customers’ card management through the bank app.
“At CR2, we are continuously focusing on introducing technology that allows us to accelerate innovation in the digital banking and payments sector.”, said CEO of CR2, Fintan Byrne. “As a result, we have partnered with Entrust to provide smooth, secure digital payment solutions that maximizes trust, while improving customer experience. This partnership ties in with CR2’s continued focus on secure digital transactions.’’
“The digital revolution is here, and banks need to transform their service model to meet the expectations for convenient, anywhere banking services,” said Senior Vice President and General Manager, Instant Issuance at Entrust, Tony Ball. “Our technology partnership with CR2 gives their customers confidence in the security of their digital payments, while also providing a user-friendly and seamless experience.”
Demand for innovation in financial services remains strong. Chief Commercial Officer CR2 Kieran Kilcullen commented “The popularity of ‘tap and pay’ for example, makes it a vital solution for banks. With this launch we bring ‘tap and pay’ capability pre-integrated to our customers. This is a huge advantage in markets where Apple Pay and others are not yet deployed. I am delighted that we have customers already signed up with a strong pipeline building”.
