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Kleinwort Hambros Bank Limited

PSD2 compliant ebanking solution

Summary of issues/requirements

Kleinwort Hambros were using an internet banking solution that had become increasingly difficult to support and adapt to changing customer and regulatory requirements.The bank specifically needed a solution that would enable compliance with new requlatory requirements and that could be implemented within a short timeframe.

Delivering a compliant internet banking solution using their previous supplier was not feasible given budget and time constraints

As Klein Hambros had an existing relationship with VEGA Solutions, they asked VEGA to prepare a proposal based on the requirements and timelines. After review, it was decided that VEGA Solutions could deliver a solution on deadline and within budget.

Skills Used

  • OneSpan Mobile Security
  • iOS & Android apps
  • RASP

Solution

At first, VEGA implemented a tactical eBanking solution to remedy the bank's predicament in the short term The solution achieved the desired outcomes, allowing Kleinwort Hambros extra time to complete necessary changes on their existing internet banking solution.

In addition to meeting regulatory requirements. the new solution from VEGA provided better functionality, improved customer engagement rates, and increased the number of customers using internet banking as welt as the frequency of internet banking activity

The new platform also (everaged multiple security capabilities, including user-friendly two-factor authentication from VEGA's partner OneSpan. Through OneSpan's Mobile Authenticator Studio, the new internet banking application leveraged a highly secure authenticator app. As a result, rather than relying on static passwords. clients now received one-time passwords delivered via push notification to their phone. In addition, the authenticator app was protected with built-in app security known as app shielding or RASP, which protects the bank's customers by hardening the app against the latest mobile threats. Both the app shielding and push notifications were quick to implement - and the push notifications were well received by clients.

Once migration from the previous internet banking solution was finalised and legacy services were decommissioned, VEGA's internet banking application became a strategic, long-term, customer-facing platform. Throughout this Journey, Vega Solutions has proven to be a flexible and reliable partner. from the implementation period to day-to-day support after the application was deployed

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Our Clients

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The need for business effectiveness and increased regulation has required us to focus on the use of software, and our user experience has been a good one. The service from Vega has always been client-focused, the team keep abreast of best practice and develop solutions to meet our current needs and maximise future opportunities.

Richard Agnelli, Collas Crill Trust

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Vega is fully aware of the challenges that Financial Services firms face; they understand our ever-changing requirements. The team see the value of well developed, robust and configurable software solutions and in the current wave of aggressive digital transformation, Vega will continue to be a core partner to us.

Adam Jefferies, JTC Group

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Vega has proven itself as highly organised, efficient and reliable partner in developing of complex and time critical applications. The results have exceeded our expectations and delivered a new, efficient, secure and user-friendly solution which greatly benefits our clients and the business.

Linas Paulauskas, Kleinwort Hambros Bank Limited