UnionDigital Bank chooses the Callsign platform to provide passive multi-factor authentication to protect against account takeover
- Written by: Telegraph Magazine
With an estimated 85 million mobile phones in the Philippines, UnionDigital Bank has designed their new digital banking offering with mobile users in mind. With a population used to slick mobile apps on the go, ease of use without compromising security in the face of rising bot and account takeover (ATO) attacks is critical.
"Innovation is at the core of everything we do at UnionDigital Bank. It is our priority to ensure that we get the best tech out there to ensure that we provide optimum experience to our customers as they maximize their power to access financial services that they deserve, safely and securely," said Dominic Grunden, Chief Information and Security Officer, UnionDigital Bank.
"With Callsign on our side, we are confident that we can do our part in eliminating fraud to build a better and safe digital economy for everyone. Callsign's solutions have given us unrivaled intelligence across device and consumer behavior to accurately identify our genuine users, allowing us to tailor user journeys, contributing to an exceptional user experience," Grunden added.
Callsign's technologies deliver UnionDigital Bank customers an easy and frictionless authentication experience to access their bank accounts through the mobile app and web. Designed for the digital world, Callsign's passive authenticators such as behavior PIN and path allow multi-factor authentication, an interaction that is unlike any analog methods, such as username, passwords and OTPs, which all add unnecessary friction.
UnionDigital Bank is using Callsign's behavioral biometric technology to analyze unique human characteristics such as the way the user types, interacts and holds their device with device fingerprinting which creates a precise, unique profile of a device from which "genuine" devices can be identified.
UnionDigital Bank has also deployed Callsign's Bot detection which estimates whether attempts to access a service is likely to be generated by automation or a real human. Bringing this all together, UnionDigital Bank has implemented Callsign's Intelligence Engine to analyze behavioral and intelligence datapoints to ascertain if a genuine user is accessing an account.
If any intelligence is unusual, UnionDigital Bank can quickly adapt the authentication journey in Callsign's Orchestration Engine where rule-based policies can be managed in real-time with no code changes. This allows UnionDigital Bank to adapt to the fast-changing needs of their customer base.
Critically for UnionDigital Bank, unlike static biometrics, Callsign obfuscates the behavioral biometric data meaning that the authentication experience is completely privacy preserving for UnionDigital customers.
'At Callsign we continue to lead the market with technology that passively and positively identifies genuine users across all digital channels. This approach benefits consumers with less friction and more personalised user experiences. UnionDigital Bank recognizes the possibilities of this technology, and we are delighted to be working with them,' concluded Namrata Jolly, General Manager, Asia Pacific, Callsign.
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About Callsign
Callsign is building digital trust and accountability into every online interaction.
Digital trust is underpinned by the confidence we have that people are who they say they are online; without digital identities, we can't have trust or accountability online.
Through proprietary technology that uniquely mimics the way humans identify each other in the real world, Callsign digitally identifies genuine users with minimal friction whilst ensuring that bad actors are blocked. Through a simple Swipe or Type, users can be personally recognized to a 99.999% accuracy, delivering the highest fidelity AI based user recognition for the digital world.
To learn more about how this technology is used to underpin digital trust across financial institutions, governments and commerce globally visit: https://www.callsign.com/
To learn more about the benefits digital trust to our global economies and society visit:
https://www.callsign.com/digital-trust-index
About UnionDigital Bank
UnionDigital Bank is a digital bank entity wholly owned by UnionBank of the Philippines. We are a Bangko Sentral ng Pilipinas (BSP) licensed digital bank that aims to empower the country's journey towards a fully digital economy. We enable Filipino communities, businesses, and regulators to leverage FinTech, Blockchain, and Open Finance technologies to achieve inclusive prosperity.
UnionDigital Bank is primed to pave the way for the future of finance and for the democratization of access to digital banking and virtual assets, empowering the lives of Filipino communities. Learn more at www.uniondigitalbank.io.
