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TONIK selects V-Key to secure its Digital Bank in the Philippines

TONIK selects V-Key to secure its Digital Bank in the Philippines
TONIK selects V-Key to secure its Digital Bank in the Philippines

In recent years, Neobanking has become a trend in the financial technology industry. The term has gained significant momentum since it is been taking the spotlight in the media. Reportedly, Tonik Financial Pte Ltd., the digital-only ‘neobank’ operating in Southeast Asia, has selected the Singapore-based digital security company, V-Key as a mobile security partner in order to offer a secure mobile retail baking platform for its new users in the Philippines.

The bank’s mobile app is the main contact point for all its customers. The ability to offer a secure and trusted environment for its users to make their banking transactions is of paramount importance for the bank.

According to sources, V-Key’s V-OS App Protection solution offers an additional layer of tamper protection and security improvements to mobile apps. It protects responsive processing data and assures app integrity when deployed. It also safeguards users even if the device is compromised or lost. It checks for malware, prevents (MITM) Main-in-the-Middle attacks, battles tampering, and also offers the anti-fraud and secure keyboard for data input.

The V-OS App Protection resides on the company’s cloud platform named as V-OS Cloud. This cloud platform is powered by Microsoft Azure Platform and offers similar powerful app protection functions as on-premise servers.

Speaking on which, Greg Krasnov, Founder and CEO at TONIK said that the company has chosen V-Key based on V-Key’s contribution to major banks around the region where its solutions were tested and validated. V-key’s patented technology has been proven to offer the security and trust factor to customers which is among the most vital issues for the bank’s consumers in the Philippines, Greg added.

Joseph Gan, Founder and CEO of V-key said that the company is looking forward to offering a secure landscape for TONIK for it to serve its users leveraging disruptive technologies and innovations.

Source Credit - https://www.marketwatch.com/press-release/tonik-chooses-v-key-as-the-mobile-security-partner-for-its-digital-bank-in-the-philippines-2020-05-05?mod=mw_more_headlines&tesla=y

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Bhushan Tambe

A qualified computer graduate, Bhushan Tambe always nurtured a passion for words. Post his education, he decided to transform his penchant of penning down poetry and stories into a full-time career. Presently, Bhushan writes numerous articles for cuereport.com and a few other websites, on subjects spanning business, finance, and the like.