Sunday, April 14, 2024

    Cambodia’s ABA bank introduces IPification to protect mobile banking clients

    Cambodia’s ABA Bank has introduced IPification to help indentify users and prevent fraud in the bank’s mobile banking processes. ABA Bank will introduce the seamless IPification technology to the subscribers of Smart Axiata, Cambodia’s leading telecommunications operator, soon followed by other operators in the country.

    IPification is a one-click mobile identity solution that enables end users to verify their phone number, register and log in within milliseconds. Developed with security, user experience and data privacy in mind, it will allow ABA Bank to enhance the user experience on its mobile banking app and will be used instead of the SMS-based, one-time-password (OTP) system currently in place in the app activation process. It already has many clients worldwide.

    Having received numerous awards for its excellence over the last decade from financial magazines such as The Banker, Global Finance and Euromoney, ABA Bank has grown to become one of the top commercial banks and digital banking leaders in Cambodia, offering an entire spectrum of services to individuals, microbusinesses and SMEs. To further improve their advanced mobile banking solution, ABA is integrating IPification for frictionless user registration and authentication.

    “We are excited to expand our strategic partnership with Smart Axiata and become the first Cambodian bank to introduce IPification on our mobile banking app,” says Askhat Azhikhanov, ABA CEO. “The security and convenience of mobile banking is our top priority, and the introduction of IPification will allow us to provide ABA Mobile users with an easier authentication process, keeping the app secure at the same time. The Bank will continue bringing the latest developments to the local market, further accelerating the digital transformation throughout the country.”

    Benefit Vantage Limited, the company behind IPification, is the leading global provider of mobile IP address-based authentication solutions.

    “It’s a privilege to work with two of the top digital leaders in Cambodia, ABA – the digital banking leader, and Smart Axiata, the leading mobile telecommunications operator. ABA will serve as a great example of what it means to put the users first by providing them with an authentication solution that doesn’t compromise security, user experience or data privacy,” adds Stefan Kostic, IPification CEO.

    Smart Axiata subscribers who are ABA Mobile users will be the first to experience the seamless mobile authentication solution, IPification, for their mobile banking needs starting from mid-October 2021.

    “Introducing the latest technologies and solutions to benefit users, both consumers and businesses, has always been a primary objective of Smart Axiata,” says Thomas Hundt, Smart Axiata CEO. “Our partnership with Benefit Vantage Limited is yet another example of the role mobile operators play as key enabler in developing the economy and technology landscape in the Kingdom. We are glad that our strategic partner ABA is the first to provide the solution and are looking forward to many other businesses taking steps towards greater security and convenience for users.”

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