Julius Baer Reduces Costs with Veridium’s Smartphone-Based Authentication
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Geo-location reporting for conditional access to resources ensuring compliance.
Rainer Witzgall – Chief Revenue Officer
Julius Baer
Banking
Switzerland
Challenge
Julius Baer struggled with the high costs and management difficulties of VASCO tokens and smartcards for authentication.
Solution
Veridium’s smartphone-based authentication replaced Julius Baer’s smartcards and tokens, simplifying secure access and reducing costs.
Result
Veridium’s solution provided Julius Baer with cost savings and enhanced security through a simplified smartphone-based authentication process.
We deliver full spectrum Continuous Authentication with Identity Threat Protection to prevent Account Takeovers for a Zero Trust World and digital sovereignty in Multi Cloud Environments.
Challenge
Managing Costly and Inconvenient Smartcards and Tokens
Julius Baer faced difficulties and high costs associated with managing VASCO tokens and smartcards for authentication. The smartcard readers were often unavailable, creating additional challenges for secure access management across their global operations.
Solution
Implementing Smartphone-Based Authentication
Veridium provided Julius Baer with a smartphone-based authentication solution that eliminated the need for smartcards and tokens. This innovative approach allowed the bank to leverage existing smartphones for secure access, simplifying the authentication process and reducing associated costs.
Result
Cost Savings and Improved Access Management
The adoption of Veridium’s smartphone-based authentication led to significant cost reductions for Julius Baer by eliminating the need for managing and replacing smartcards and tokens. This solution also improved overall security and convenience for users, providing a streamlined authentication experience.
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Veridium prevents Account Takeovers better than anyone else. We protect the identity supply chain with AI-powered Identity Threat Protection.
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Priority Zero is Identity and Access Management. Because, if the idenetity is gone, hackers have an easy game to penetrate. And there is our standard - worldwide - Veridium.
Dr. Ralf Schneider – Group CIO, Allianz Insurance