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Valimo and Trivnet to introduce enhanced mobile security for mobile money transfers
Solution suitable even for large overseas transactions
International laws regulate money transfers with strict demands for strong authentication of transaction parties. The combined solution, with its powerful identification that helps to stop fraud and money laundering, will be demonstrated at the Mobile Money Transfer Africa 2010 Conference and Expo this week in Nairobi.
"Our partnership with Valimo will enable the highest level of endtoend security available for Mobile Financial Services", commented Amit Mattatia, CEO of Trivnet. "With our joint solution, Mobile Network Operators are now able to offer the most comprehensive suite of secure MFS, including payments and remittance, commerce and banking based on Trivnet's powerful transaction management platform, while ensuring utmost privacy and security."
"In addition, our joint mobile money transfer solution is ideal for developing markets, which often have immature financial infrastructures and very few local bank branches. For the unbanked and underbanked, the solution offers an opportunity to handle financial transactions and make large payments or money transfers overseas conveniently and securely. Valimo's Mobile ID solution can also be used by several users sharing one device and is thus as convenient as a shared solution in remote areas. It is also future proof and can complement requirements when mobile bank customers start making savings and investments", said Juha Murtopuro, CEO of Valimo.
Mobile ID users are able to securely log in to online services, sign documents and confirm transactions by using their mobile phones. As people typically have their mobile phones with them at all times, a legally binding digital signature is easily done regardless of time or place. As the applications are on the SIM card, they work with all GSM devices with a SIM card.
Valimo Mobile ID can be used for all services that require personal authentication, identification or a legally binding signature. It is based on Public Key Infrastructure (PKI). Valimo is the global market leader in Mobile ID solutions in terms of both installation base and number of active users. Valimo solutions are used by operators, banks, enterprises, public sector, ecommerce and other service providers throughout the world.
Valimo mobile signature can be used with all mobile phones and devices with a SIM card or other secure storage inside. The resulting safe and reliable digital authentication replaces various tokens, password and code lists. When using an online service requiring authentication or digital signing, the request is sent to the user's mobile phone using secured SMS technology. The message pops up on the phone screen, asking the user to confirm his or her identity or approval by entering his or her personal PIN code. If the device is lost or stolen, the services cannot be accessed without reentering the PIN.
Valimo and Trivnet will showcase mobile money transfer solution with strong user authentication at the Gemalto stand at the Mobile Money Transfer Africa 2010 Conference and Expo in Nairobi, Kenya 4 - 7 May, 2010.
Trivnet provides the most powerful transaction management platform to deliver a comprehensive suite of secured Mobile Financial Services (MFS). By enabling the creation of an MFS ecosystem, Trivnet provides Mobile Network Operators with services that are proven to increase their subscriber base, enhance loyalty and drive ARPU.
Trivnet's carrier grade TRIV Platform (TM) is already deployed in operator networks all around the world. The company has close relations with leading banks, system integrators, service providers, security vendors and merchant networks.
Founded in 1997, privately owned, and the partner of choice in leading MFS ecosystems around the world, Trivnet is all about MAKING MONEY MOBILE.www.trivnet.com.
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