NCR Corp. said it has teamed up with a Travelers Group subsidiary to offer insurance protection to Internet banking customers.
Known as SafeWeb Remote Banking Insurance, it will be provided by Travelers Bond, a unit of Travelers Property Casualty. The coverage against unauthorized transactions will apply automatically to on-line customers of financial institutions utilizing NCR's electronic banking services.
"We believe that security is the main concern of people using the Internet for banking or electronic commerce," said Greg Hanson, NCR electronic commerce solutions general manager. As more bank customers take advantage of the convenience that electronic commerce offers, the greater is the importance of offering the highest level of Internet security."
Robert J. Nighan, manager, Travelers Bond Financial Services, described SafeWeb as "a safety net of insurance protection backing up NCR's security procedures, a feature not currently available with other Internet banking systems."