Online Identity Authentication (IA)
Solution Case Study
Online securities trading is a new form of electronic trading. In comparison with traditional trading patterns, online trading is free from time and space restrictions and is interactive, applicable in large scope of service, cost effective and highly efficient, so it is very popular among securities companies and investors.
While new securities trading patterns such as telephone commissioned trading, online commissioned trading bring securities investors with convenience, they also increase their risk exposure to cheating, interception and unauthorized intrusion.
For securities companies, they are confronted with two major issues wen they try to bring the securities trading business online:security and usability. Online security is the biggest concern of Internet users and also one of the major factors that keep investors from online securities transactions. Investigations show that over 42% Internet users give up online securities transaction for this reason.
Currently, China Securities Regulatory Commission has issued the Notice on Enhancing Security Protection of Investors’ Online Transactions,which required that all securities companies, fund companies and futures company enhance their authentication of investor identity in online transactions, improve the security grade of online transaction software, in order to prevent criminals from stealing the account of investors and their illegal online transactions.
mOTP Solution Description
Longmai Identity Authentication System is built on basis of One Time Password (OTP) technology,which helps to enhance the authentication of investor identity in online transactions of securities, so that user identity spoofing in online transactions can be avoided.
Longmai solutions can effectively eliminate the security risks and solve the security issues in practical applications.
The solution can both meet requirement of China Securities Regulatory Commission on protection of online transactions and can meet the needs for timeliness,stability and usability in online transactions. Longmai identity authentication system has very high performance and a single authentication server can process over one thousand concurrent authentication requests. In addition, Longmai has complete emergency response mechanism to ensure that the existing transaction system will not be affected in whatsoever cases, meeting the requirements in securities industry for large concurrent authentication.
Solution Benefits for online investors at all levels
Longmai provides diversified authentication terminals for securities companies and investors, including hardware token, mobile phone token, software token, matrix card token, etc. Longmai provides online investors with diversified, easy-to-use and secure authentication solutions, which can meet the needs for protection of investor identity without affecting the existing transaction systems.