Commerzbank, Germany’s second-largest bank by assets, has implemented UK-based technology vendor Cronto’s visual transaction signing technology to protect its customers from online fraud.

Cronto said the service, named photoTAN, will allow customers to securely verify payments using their mobile phones by pointing the camera at the online banking screen.

This generates a transaction authentication code, which is then entered into the browser by the user.

According to Cronto, the service aims to protect customers from malware and trojans specifically aimed at online banking.

Commerzbank’s customers will be able to choose between using the photoTAN mobile app or a separate device.

Frank Annuscheit, member of the Commerzbank board of managing directors and chief operating officer, said: "photoTAN is an important security project for the bank and underlines the strength of our technical innovation in the area of information technology."


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