OneSpan (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that Sony Bank is protecting its mobile banking transactions with OneSpan’s Mobile Security Suite.
OneSpan helps the bank secure and improve the customer experience by detecting and preventing mobile threats in the background, while integrating convenient features like facial recognition and fingerprint biometrics.
Mobile banking adoption continues to increase and the frequency of mobile attacks like malware and trojans continue to rise. Sony Bank was able to address both customer experience and security by launching its banking app and securing it using OneSpan’s suite of mobile SDKs. Mobile Security Suite integrates application security, biometric authentication and Application Shielding, which detects and mitigates fraudulent activities and helps ensure the integrity and protection of apps and data.
“Addressing security and customer convenience was key for us, and with OneSpan’s solutions we are able to achieve both,” said Sony Bank Senior Manager of the Systems Planning Department, Shuichiro Sumimoto. “The technology comprehensively protects the device and the application, while providing an easy way for our customers to complete mobile transactions.”
“OneSpan’s Trusted Identity solutions enable banks to simultaneously fight an ever-increasing number of threats while ensuring a seamless and easy customer experience,” said OneSpan CEO, Scott Clements. “With Gartner predicting that by 2022, at least 50% of successful attacks against mobile apps could have been prevented using in-app protection,[i] Sony Bank is taking the right steps to future-proof its business.”
While mobile threats are on the rise, so too are regulations designed to make banking more secure and transparent. In particular, the global move toward Open Banking has triggered regional regulations such as the Amended Banking Act of 2017 or the Second Payment Services Directive (PSD2) in Europe. Using OneSpan’s technology, Sony Bank can address today’s PSD2 requirements with the aim of using the technology to address potential future regulations.