Abu Dhabi, UAE: Abu Dhabi Islamic Bank has deployed a new feature for SWITCHWARE®. The new enhancement allows banks and FIs using SWITCHWARE to incorporate multiple PIN Verification Keys (PVKs) for a single Bank Identification Number (BIN). Under previous versions, financial institutions could only assign one PVK for each BIN. This new feature will use the card issue date (or card expiration date) to determine which key to use for verifying a cardholder’s Personal Identification Number (PIN).
The PVK is a data encryption key assigned to a single BIN loaded in SWITCHWARE® and is used to generate and verify PIN offset values. If a PVK is compromised, it could be used to determine cardholders’ PIN numbers. In the past, a suspected or confirmed compromise of a PVK required a massive reissue of every card sharing the common PVK for the entire BIN. With this feature, a new PVK can be introduced and cards can be reissued gradually over a period of time, rather than performing a mass card reissue.
This new feature is now available for all customers running SWITCHWARE® version 3.12.2 or higher.
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