Gemalto, an international digital security company has been selected by Philippines-Based BancNet to secure its mobile banking services.
BancNet, an interbank network of 116 local and international banks with over 40 million cardholders, in association with Gemalto will enhance its present system of banking website and will enable stronger user-authentication through mobile phones, tablets, and other computer devices.
“Gemalto’s Ezio Authentication Server (EAS)and Mobile token will allow BancNet customers to pay their bills, check account balance, and transfer funds from their accounts with any member bank, using their computers and mobile devices to perform dynamic, multi-layer authentication and transaction verification,” Gemalto website notes.
The EAS solution offers BancNet to increase flexibility in choosing the most suitable solution for their customers. It is also compatible with all open standards, allowing easy integration with BancNet’s legacy systems.
“We chose Gemalto because they are a leader in user authentication, with a proven track record in the Philippines,” said Aristeo Zafra, Jr., BancNet General Manager and Chief Operations Officer. “Their solution will enable our customers to access their bank accounts using mobile devices as their primary authentication device, with a greater sense of security. They would not need to carry or register multiple tokens.”
“In Philippines, 88% of the total mobile Internet population is under the age of 35. With smartphone penetration expected to triple to 50% by 2015, BancNet has an enormous opportunity to tap into this enthusiastic generation,” said Michael Au, President South Asia and Japan at Gemalto. “Our future-proof solution will enable BancNet to offer exciting features that will attract and retain this segment of customers.”