Sony Bank has partnered with OneSpan to improve the customer banking experience and prevent mobile attacks.
Through the partnership, both companies aim to integrate features like facial recognition and fingerprint biometrics.
Sony Bank Senior Manager of the Systems Planning Department, Shuichiro Sumimoto, said: “Addressing security and customer convenience was key for us. With OneSpan’s solutions we are able to achieve both.
“The technology comprehensively protects the device and the application, while providing an easy way for our customers to complete mobile transactions.”
Cyber security attacks on the rise
The announcement comes as mobile banking adoption continues to increase and the frequency of malware attacks continue to rise. In response, Sony Bank launched its banking app and secured it using OneSpan’s suite of mobile SDKs.
OneSpan’s Mobile Security Suite integrates application security, biometric authentication and Application Shielding. As a result, it detects and mitigates fraudulent activities and helps ensure the integrity and protection of apps and data.
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OneSpan CEO, Scott Clements, said: “OneSpan’s Trusted Identity solutions enable banks to simultaneously fight an ever-increasing number of threats. They also ensure seamless and easy customer experience.
“With Gartner predicting that by 2022, at least 50% of successful attacks against mobile apps could have been prevented using in-app protection, Sony Bank is taking the right steps to future-proof its business.”
In recent years, there has been a push towards open banking and making it more secure and convenient. This has triggered regulations such as PSD2 in Europe.
Sony Bank will use OneSpan’s technology to address today’s PSD2 requirements with the aim of using the technology to address potential future regulations.
Early this week, the bank launched English online banking for foreign residents living in Japan. Through the bank’s new app, foreign residents can open a bank account and conduct everyday banking in English.