Swissquote Bank releases push notification-based mobile authentication system

Swissquote Bank releases push notification-based mobile authentication system

- in All News, Forex Brokers, Trading Platforms
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Swissquote Bank (SWX:SQN), a Swiss online financial and trading service provider, said on Thursday it has released Mobile Level 3, an enhanced version of its authentication system for the bank’s online trading platform that uses push notifications and makes the authentication process simpler and faster.

Mobile Level 3 is an alternative to the Level 3 Card, a paper card that contains an authentication code (renewed each year) for entering Swissquote Bank’s online trading platform. It is a supplementary authentication level to the standard username and password.

When accessing the bank’s platform, raders who use Mobile Level 3 will receive push notifications on their smartphones, instead of manually entering their Level 3 code. However, they will still need to enter their username and password to access their trading account with the forex bank.

“Through a customer survey we realized that many customers found the online authentication process to be prolonged. This led to some clients deactivating the additional authentication layer of the Level 3 Card,”  said Paolo Buzzi, Swissquote Bank CTO. “In order to avoid this, we have created a more user-friendly authentiicaton experience. The Mobile Level 3 technology combines the necessary high security with the need for a smart solution that is fast, flexible and easy to use,” he added.

Once activated, the Mobile Level 3 authentication method facilitates trading by sending push notifications to traders’ smartphone or tablet that can easily be confirmed by tapping.

Push notifications are available to mobile devices with iOS and Android operating systems (Windows support is to be released, too). They run even when the Swissquote Bank app is not open, but require an Internet connection.

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Clients who prefer the standard Swissquote Level 3 Card authentication (with manual code entrance) can still use it.

Swissquote Bank provides online trading, analysis, and financial and information services. The Swissquote Group is headquartered in Switzerland and holds a bank license issued by the Swiss Financial Market Supervisory Authority (FINMA). The company has more than 200,000 retail and institutional clients serviced through its offices in Dubai, London, Malta and Hong Kong.

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