Philippines financial institution Security Bank has modernised its electronic Know Your Customer (eKYC) process to streamline customers' digital onboarding journey.
This will help create customised onboarding workflows and maintain regulatory compliance.
The process will be done through the new Security Bank app.
It has partnered with Entrust, an identity-centric security solutions provider.
The bank will leverage the Entrust Onfido Studio platform for security features with fraud detection capabilities, including deepfake detection and prevention.
Security Bank’s SVP and strategy, innovation architecture, and platform division head, Juan Mestas, said Entrust’s identity verification technology will help enhance the security and accessibility of banking services and ensure that every customer interaction, digital or in-person, is convenient and reliable.
Looking ahead, the plan is to expand these capabilities across services for better customer experiences, Mestas added.
The bank taps Entrust's dedicated technical specialists for continuous enhancements and best practices.
Initially focused on retail banking onboarding, Security Bank plans to extend Entrust identity verification solutions across its portfolio of services.
The technology will be leveraged to enhance the customer experience across additional digital services, ensuring consistent security and convenience across banking touchpoints.
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