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Hardware Protected Confirmation is an Innosuisse project co-financed by UBS’s venture and innovation unit, UBS Next, and supported by Swiss software firm Adnovum.
UBS, Google and the University of Applied Sciences Bern (BFH) have teamed up to make mobile transactions even more convenient and secure. Together, they are working to establish Android Protected Confirmation as the common application programming interface so users can easily confirm and verify the sensitive transactions made on Android mobile devices.
This technology enables security-critical mobile apps to provide a safe and simple environment for financial transactions and other sensitive events, including shareholder voting and electronic signatures.
The initiative is financed by UBS Next, UBS’s venture and innovation unit, and Innosuisse, the Swiss innovation agency promoting collaboration between academia and the market to advance science-based innovation. Adnovum is providing support with software engineering.
“UBS has long been at the forefront of improving client experience and security in the financial services industry,” said Alain Hiltgen, Head Business Security Advice at UBS. “Through this collaboration, we aim to demonstrate how Hardware Protected Confirmation is a game-changer, making transactions safe and easy to perform across all industries, and also look to form an alliance promoting standard adoption across all device manufacturers.“
Hardware Protected Confirmation Pilot Program
The group is collaborating on a pilot program for the UBS Access App, a highly-secure authentication login solution for the firm’s digital banking clients in Switzerland and abroad. The pilot program will use Android Protected Confirmation to ensure clients can confirm payments and verify online purchases through a simplified, secure experience, including the use of biometrics and hardware protections.
“We are excited to share real-world use cases that leverage Android Protection Confirmation to secure mobile payment transactions and confirm a user’s transaction intent,” said Rae Wang, Director of Android Product Management. “We look forward to partnering with UBS and BFH to strengthen mobile security across financial transactions and other security-critical operations.”