AccessApp for Quilvest Switzerland

The perfect balance between security and usability

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‹‹The access app has proven to be an attractive product that’s easy to use but offers maximum security for e-banking and mobile banking.››

Simon Gassmann

CIO, Managing Director, Executive Committee Member of Quilvest Switzerland

The challenge

Even the most established financial service providers need to adapt to changing customer habits. Quilvest’s younger customers are particularly keen to use WhatsApp to communicate with investment advisors and manage their banking transactions without unnecessary complications. However, this is not a viable long-term solution as legally binding bank transactions cannot be settled via messaging apps.

Quilvest wants to offer its customers maximum convenience but within a framework that satisfies both data security and confidentiality requirements. With this in mind, Quilvest developed a platform which includes secure communication via chat. Together with this, a new authentication solution backed by a firewall for setting up e-banking was required.

We were thrilled to be selected as a provider of choice to develop the AccessApp – but this wasn’t the start of our business relationship with Quilvest. Together, we have been working on several security consulting and software development projects since 2016, such as their website relaunch. To develop the new authentication solution, we teamed up with our partner Nevis.

The solution

As part of the security infrastructure for banking customers, a combined solution comprising a proxy server, IDM, web authentication firewall infrastructure and AccessApp as a cloud solution was chosen. For authentication, there are two possible procedures:

 

  • Customers log in to the web portal and enter their contract number and password. They then receive a push notification in the app. To authenticate their identity, they use a PIN or fingerprint/face ID.
  • Alternatively, customers directly use the banking app on their mobile device and enter their contract number. They will then receive a push notification to be confirmed using a PIN or fingerprint/ face ID.

 

Renewing the Nevis components as part of the security infrastructure was straightforward for Quilvest as the products had already been in use for several years. However, the company required more support for creation of the AccessApp, especially with regards to the branding of the solution. Thanks to the test phase, Quilvest gained valuable insight into what devices their customers use and what devices the AccessApp needs to be offered on. This was an important learning as only the latest smartphone models come with the necessary security chips installed.

Quilvest (Switzerland) Ltd. has carved out a reputation as an independent asset manager and ranks among the pioneers and visionaries of private equity investments. The company relies on its extensive knowledge of financial markets and on an international network of experts to pinpoint unique investment opportunities for its customers.

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The benefits

The new app combines high security standards with the usability of the chat function

Banking users are significantly more receptive to the faster and customer-centric mobile banking offering

Two-way authentication: either in the web portal or mobile through push notification and fingerprint/FaceID

Ease of use with mobile and e-banking in a single app