Tuesday, December 13, 2011

Singapore Launches World’s First National Two-factor Authentication Device

A new device, expected to raise the security of online transactions while allowing access to multiple electronic platforms, was launched in Singapore on Monday.

Called “OneKey”, the device was rolled out by Assurity Trusted Solutions, a subsidiary of the Infocomm Development Authority of Singapore.

Assurity said OneKey, about the size of a name card, is the world’s first national two-factor authentication device.

The device was launched as part of the National Authentication Framework, of which Assurity is the operator.

According to Assurity, OneKey users can access multiple online platforms using the single device.

For example, the same device allows them to do online banking with different banks.

While Philip Securities, Kim Eng Securities and ST Electronics have reportedly said they will leverage on OneKey, no banks have joined the new system as yet.

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