A modern payment transaction authentication method
Across the globe, customers’ digital experience is reshaping traditional banking services and relationships, with the Asia Pacific region leading the transformation. According to a recent survey we conducted with TAB Insights, 66% of transactions are done digitally, with financial institutions expecting growth in daily digital transaction volume from 385 million in 2022 to 655 million by 2025.
SMS OTP (One-time password) and hardware tokens have been widely used for banking transactions authentication in the past, but they are increasingly considered unsafe methods in today’s digital landscape. Highly susceptible to malware attacks, fraudsters can easily intercept these SMS-based two-factor authentication, bypassing the intended recipient and thereby accessing the victim’s bank accounts.
How can your organisation simplify your customers’ experience in online and mobile banking, while keeping their transactions safe? We can help with an omni-channel solution based on asymmetric cryptography that allows users to confirm any digitally generated transaction with just one tap.
Simple, easy and secure – and can be done right from your organisation’s mobile banking app. We know how important it is to keep your customers safe from online fraud. Reach out to us for a demo today on how we can help secure your customers’ transactions.