Last Updated on: 20th January 2023, 10:17 am
CR2, a world leader in the digital banking and payments platform industry, has formed a technology partnership with Entrust, a leading enabler of trusted identities, payments, and digital infrastructure.
This partnership will provide CR2’s bank customers with a secure, seamless digital payment experience.
In recent years, there has been a dramatic increase in digital banking payments worldwide. While this has given banks and their customers greater flexibility and more banking opportunities, it has also accelerated the possibilities of fraud. To mitigate these risks, many banks have invested heavily in improving their security offering to customers.
Through the technology alliance partnership, CR2 will leverage Entrust tokenization and NFC payment solutions providing a fully comprehensive digital payments offering. CR2 bank customers will be able to seamlessly access digital tokens with unique numbers to replace sensitive card data for enhanced security.
Cardholders will also be able to manage the token lifecycle (view, suspend, resume or delete tokens). This allows banks to offer a secure and unique digital banking experience.
In addition to enhancing security, Entrust enables CR2 to bring more convenience and self-service capabilities to customers’ card management through the bank app.
“At CR2, we are continuously focusing on introducing technology that allows us to accelerate innovation in the digital banking and payments sector,” said Fintan Byrne, CEO of CR2.
“As a result, we have partnered with Entrust to provide smooth, secure digital payment solutions that maximise trust, while improving customer experience. This partnership ties in with CR2’s continued focus on secure digital transactions.’’
“The digital revolution is here, and banks need to transform their service model to meet the expectations for convenient, anywhere banking services,” said Tony Ball, Senior Vice President and General Manager, Instant Issuance at Entrust. “Our technology partnership with CR2 gives their customers confidence in the security of their digital payments, while also providing a user-friendly and seamless experience.”
Demand for innovation in financial services remains strong. Kieran Kilcullen, Chief Commercial Officer CR2 commented: “The popularity of ‘tap and pay’ for example, makes it a vital solution for banks. With this launch, we bring ‘tap and pay’ capability pre-integrated to our customers. This is a huge advantage in markets where Apple Pay and others are not yet deployed. I am delighted that we have customers already signed up with a strong pipeline building.”
CR2 is a leader in digital banking and payments. The business powers over 100 banks in 60 countries across the world.
BankWorld, their core digital banking and payments platform, offers the broadest capabilities in the market and uniquely integrates Digital Banking, Card Issuing with ATMs, and Switching.
In addition, CR2’s Partner Ecosystem combines the confidence of BankWorld with access to easy plug-in and third-party Fintech innovations.
In simple terms, CR2 helps financial service providers to build around consumers with technology that supports both customer experience and an ability to deliver consistently.
Entrust keeps the world moving safely by enabling trusted experiences for identities, payments, and digital infrastructure. We offer an unmatched breadth of solutions that are critical to enabling trust for multi-cloud deployments, mobile identities, hybrid work, machine identity, electronic signatures, encryption, and more.
With more than 2,800 colleagues, a network of global partners, and customers in over 150 countries, it’s no wonder the world’s most entrusted organizations trust us.