Security Archives - Fintech News Philippines

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Philippines Fintech Requires Robust Cybersecurity to Fight Off Bad Actors

Concerns and awareness about cybersecurity have been at the forefront as the Philippines increase digital payment services and move towards a cashless society. The parallel relationship between usage and scam has been evident in the age of fintech, and the

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Here’s How Okta Helped Singlife with Aviva Deliver a Seamless Login Experience

Singlife with Aviva was formed through the merger of Singlife and Aviva Singapore, bringing together one of the world’s oldest insurers with Singapore’s youngest homegrown financial services company. While the merger was officially completed in January 2022, it also presented

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Are Filipino Banks Able to Keep Up With BSP’s New IT Risk Rules?

If you’re a risk management leader in the Philippines, Circular No. 1140 might keep you up at night. After all, it’s not every day that the Bangko Sentral ng Philipines (BSP) passes sweeping regulations requiring banks to implement a new

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Cybersecurity Talent Shortage Puts APAC Organizations at Risk

Organizations across Asia are facing challenges in recruiting and retaining cybersecurity talents, a skills shortage that’s putting them at risk amid increasing occurrence of security breaches and resulting financial losses, findings from a research by cybersecurity firm Fortinet show. The

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BSP Urges Banks to Beef up Security Against Cyber Attacks

Bangko Sentral ng Pilipinas (BSP) has urged financial institutions to adopt robust control measures against cyber attacks on retail electronic payments and financial services (EPFS) due to the increasing shift to digital channels. According to the memorandum that BSP had

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Digital ID Verification, Remote Document Signing to Become the Norm in Finance Sector

The pandemic has accelerated the growth of non-face-to-face interactions, forcing banks, merchants and others to swiftly deploy digital tools to accurately verify the identity of the person on the other end of a digital transaction. A 2021 study by advisory

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New Report Outlines Emerging Fraud Trends in 2022

The widespread shift to online channels during COVID-19 has seen scams and fraudulent activities surge. A new study by Onfido, a provider of identity verification solutions, highlights an increase of 44% in identity fraud since 2019 as a result of

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Using E-Signatures to Ensure Business Continuity in an Increasingly Digital World

The COVID-19 pandemic has accelerated the trend towards digitisation. Suddenly, government agencies, organisations, and businesses of every industry have been thrust into a world of remote processes, and the need for technology that enables business continuity has never been higher. Businesses

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Tonik Partners With NetGuardians and Finastra to Mitigate Fraud in Real Time

Tonik, a licensed digital-only bank in Philippines, has selected NetGuardians and Finastra’s AI-based, real time fraud mitigation solution. Banking software provider Finastra had partnered with Swiss fintech NetGuardians in 2019 to identify fraudulent payments in real-time, stopping them before money

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Why We Should Eliminate Passwords as Passwordless Authentication Is the Future

The computer password has been around for more than 6 decades. The first password can be traced back to 1961 in Massachusetts when a computer at MIT was protected with a password for secure login. Incidentally, MIT’s time-sharing system was