Introducing the VeroCard

Consumer confidence wavering in the face of growing fraud.
October 5, 2017
Advanced manufacturing centre for Northern Adelaide
November 20, 2017
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Introducing the VeroCard

Introducing the VeroCard device

Nic Nuske, Co-CEO of Vero Systems, explains how the ‘VeroCard’ may provide the comprehensive mix of convenience and security solutions that individual consumers, business and government are currently seeking.

Convergence of access to internet services on smartphone is desired and inevitable. This trend is driven by consumers demand for convenience and speed. Consumers and citizens however need to be convinced that this will not come at a cost to security or privacy.

Whilst there are many organisations working on improving the security of mobile phones, the fundamental challenge remains that the combination of an operating system and applications (software) collocated on the device is what makes the hardware vulnerable from an authentication and security perspective.

So, how to resolve the conflict between mobile phone usability and security?

Telstra believes that next generation digital platforms and services will require the development of ground-up, next generation, security and identity platforms, which are highly distributed composite services that limit personal data disclosure and can evolve to address new and emerging threats.

There is no evidence that any software only based security identity solution is stemming the tide on fraud, identity theft or data breach. Global use of physical second factor authentication by a device has again accelerated, now driven by consumer concern as much as by the need to protect assets and information by Government or Corporate enterprise.

Consumers have proven that they will accept poor, unwieldy, unsecure and repetitive process to register, re-register and also attempt to manage their multitude of accounts, when they believe there is no other way to work online.

Now with VeroCard, a secure card that delivers an anchored ID and single point of entry to systems using a PIN, Vero Systems offers, for the first time, the usability of any device or operating system combined with the necessary cyber security to protect online activity.

The benefit of the VeroCard is that it is tamper proof and enables an out of band authentication, using proven ATM techniques, to ensure the integrity of the individual online performing the actions. The ease of integration with multiple systems and for multiple purposes creates significant value and the convenience desired by consumers, while the security systems address their privacy concerns.

Vero Systems believes consumers will accept a separate device like the Vero card, if it delivers the multipurpose convenience together with security and privacy control in their hands, and reduces a significant number of inconvenient processes and steps associated with working online.

With the Vero system users will not have to compromise their access and convenience for all services across multiple platforms (tablets, laptops, desktops, proximity and contactless readers.) It will actually provide greater convenience than the phone alone, using familiar interfaces to consumers and reduced overall complexity after initial registration. It will provide the opportunity to remove all other cards in the path to full convergence on smartphones.

Business and government use

In particular, business and government have an internal need in their operations, as well as service to customers, to be able to test, evaluate and promote user adoption of more secure online services, engendering the trust to perform more activities online. Replacing access cards, RSA tokens, and employee ID cards with a VeroCard would bring benefits immediately obvious to the user, and mandated by the organisations.

The trade-off between security and convenience (or in some cases ‘perceived convenience’ driven by the self-interests of device manufacturers) continues to confuse and compromise many stakeholders involved in provision of online services, and also drives significant (and in many cases unnecessary) costs, as organizations try existing or emerging solutions that have evolved from existing architectures, rather than to revolutionize and resolve the identity authentication issue.

The probability exists in many cases that, rather than building tomorrow’s next generation platforms, they are building tomorrow’s legacies. Legislators, advisors, industry bodies, policy makers and standards groups publish a desired state for internet service security, but are constantly frustrated by the lack of a comprehensive solution.

With the VeroCard and other products, Vero Systems can provide that comprehensive solution by converging the cyber security and digital identity services, protecting existing investments for providers, generating lower costs, reducing cyber impacts, improving the existing customer experience, improving consumer/citizen trust, all the while using interfaces that people are familiar with.

Regarding this issue, what is the tipping point for you to take action (or wait & see) for your business?

For more information message us here at www.Veroguard.com.au, or contact info@pointofpay.com.au

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