Bahrain-based systems integrator and IT consultant NGN International has launched a security platform for mobile and online banking.

The company launched this new offering in collaboration with Singapore-based Airome Technologies.

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Dubbed PayConfirm, the new platform allows users to authenticate and confirm operations including digital banking and e-document management systems (EDMS).

It uses a mobile transaction authentication signature (mTAS) to do so, which is said to be independent of mobile operator service and SMS delivery time.

In addition to providing security against cyberattacks, the platform allows users to confirm transactions up to three times faster than OTP-based SMS and tokens.

The platform will also enable users to confirm the transactions in offline mode.

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PayConfirm is an omnichannel solution designed to allow users to confirm transactions generated in online or mobile banking, in ATM or while online shopping.

Airome Technologies co-founder and CEO Denis Kalemberg said: “Bahrain is at the edge of becoming a major hub for finance, technology and innovation.

“With an increasing demand for financial services and cashless payments technology, we believe that our PayConfirm solution is essential, timely and relevant to the market.

“Through signing a partnership with NGN International will allow us to target a large customer base with a turnkey product.”

NGN International CEO Yaqoob Awadhi added: “NGN managed to attract Airome Technologies, the international developer of cybersecurity solutions, to launch its digital products in the Kingdom of Bahrain based on the Kingdom’s advanced payment and financial transaction systems, stable and fast internet network, regulatory legislation, and great awareness among users.”