Next generation of secure banking devices

6 October 2015

Founded in 2005, Cronto Limited is already a leading provider of secure transaction authentication solutions for internet banking. Dr Sharon Lee, (2008 Croucher Scholarship), joined the company in 2012, following the completion of her PhD studies at the University of Cambridge.

The mission of Cronto is to secure financial internet transactions, meeting both the approval of the customers that make them, and cost and security requirements of banking organisations.

The company is based in Cambridge, UK, and was set up by four members of the university. The founders had been leading engineering research at the university, where the idea was born to create the Cronto visual cryptogram, and to further develop visual transaction signing technology. Cronto launched its first product, CrontoSign in 2012. CrontoSign aims to provides a secure means of online banking, in a way that is user-friendly, without compromising security. The technology works by encrypting transaction details into a 2D colour code using proprietary standards. Only pre-registered devices can decrypt and display the information for user verification, authenticating not just the user, but also the transaction, which can help to defend the advanced hacking techniques including the Man-in-the-Browser attack.

Initially, Lee joined Cronto in Cambridge on an internship before transferring to the company’s Shenzhen factory. Now back in Cambridge, Lee is working as a research and innovation manager.

Physiological biometrics will use unique characteristics, such as iris patterns, in online banking security. Photo: Eye, Grégoire Lannoy, flickr.com

Behavioural biometrics are based on unique ways people do things such as walking, talking, signing their name, or typing on a keyboard (speed, rhythm, pressure on the keys, etc). Physiological biometrics are based on a person’s physical characteristics which are assumed to be relatively unchanging such as fingerprints, iris patterns, retina patterns, facial features, palm prints, or hand geometry. Lee and her colleagues are exploring the possibility of using both forms of biometrics to develop the next generation of secure banking devices.

Lee received her BEng degree with first class honours in electronic engineering (2003), and her MPhil degree in optical communications (2005), both at The Chinese University of Hong Kong. In 2008, she was awarded a Croucher Foundation scholarship to pursue her doctorate in electrical engineering at University of Cambridge, UK.

To view Dr Sharon Lee’s personal Croucher profile, please click here.

To read more about CrontoSign technology, please click here.