Singapore-based digital-only neobank Tonik has chosen software-based digital security solutions provider V-Key to provide a secure mobile retail banking platform for new customers in Philippines.
Tonik will leverage V-Key’s V-OS App Protection on V-OS Cloud to secure its digital bank in the Philippines.
V-OS App Protection, which is built on V-Key’s Virtual Secure Element technology, incorporates an added layer of tamper protection and security enhancements.
Once V-OS is deployed, it secures sensitive data and processing, ensuring app integrity and safeguarding user privacy even in the event of the device being lost or compromised.
The solution, powered by the Microsoft Azure Cloud Platform, detects malware, prevents Main-in-the-Middle (MITM) attacks, combats tampering, and offers a secure, anti-fraud keyboard for data input.
V-Key founder and CEO Joseph Gan said: “Going one step further, we have incorporated Threat Intelligence whereby the latest identified threats are automatically updated to our deployed V-OS App Protection platform.”
Tonik, based on its digital-only approach, relies on a mobile app as the main contact point for its customers.
The digital bank believes that the ability to provide a secure environment for banking transactions is critical to the customer experience.
TONIK founder and CEO Greg Krasnov said: “We selected V-Key because of V-Key’s history with major banks around the region, where its solutions were well validated and tested.
“Its technology is protected by a global patent and has been proven to deliver the trust factor and security to customers, which is among the most important issues for our potential customers in the Philippines.”