Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, has been selected by BancNet to secure its mobile banking services.
BancNet is a Philippines-based interbank network of 116 local and international banks, serving over 40 million cardholders. Gemalto's Ezio Authentication Server 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.
The Philippines is an archipelago of over 7100 islands, with a population of 100 million. According to Citi Fin-Q 20131, 92% of Filipinos polled would like to 'take their banking with them' and be able to access all their finances on the go. This solution, which will enhance the present system of BancNet's banking website2, will enable stronger user-authentication through mobile phones, tablets, and other computer devices.
The Ezio Authentication Server is a token-agnostic solution that supports all leading authentication technologies3, offering BancNet increased flexibility in selecting the most appropriate solution for their customers. It is also compatible with all open standards, enabling 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 354. 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."
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