Through the addition of MFA and data security features, the bank is keeping up with the country’s digital payments transformation roadmap
In its latest stride towards digital transformation, and to meet national digital payments transformation roadmap goals, CTBC Bank Philippines (CTBC) has modernized its web application to be more secure and user friendly.
The revamped interface presents a unified, at-a-glance view of users’ financial products, which simplifies navigation, streamlines functionality, and enhances the overall user experience.
In line with what is possible today, the bank allows users to customize the application with personalized widgets and features to prioritize the information that matters most to them.
As for enhancing security the web application now integrates a suite of advanced protection measures to safeguard user data, and assure users of their privacy and financial information. In addition to requiring the input of User ID and password, a time-based One-Time Password (OTP) system has been introduced to fortify defenses against unauthorized access. Device recognition technology detects and remembers trusted devices for an added layer of verification, while Secure Socket Layer (SSL) encryption creates a secure and encrypted link between the user’s device and the banking servers, ensuring that all data transmitted remains private and integral.
CTBC plans to introduce even more security features in future, including biometric authentication for transactions, according to the bank’s President and CEO Oliver D Jimeno. “Our new web and mobile banking platforms are designed to meet the needs of our clients, providing them with the essential tools to manage their finances efficiently and securely, anytime and anywhere. This is a key step in our digital journey to not only remain competitive but also make banking more accessible to the general public.”
According to Lourdes Yap, Senior Director (Sales, Marketing and Business Development), Hitachi Asia Ltd., CTBC’s technology partner: “As the financial industry evolves, the role of finance becomes broader, serving not only economic interests but also societal welfare and environmental stewardship. We believe financial inclusion is a right, not a privilege, and it should offer everyone the opportunity to participate fully in the economy. We are thrilled to have this opportunity with CTBC Bank and contribute to the digital transformation of the Philippines’ banking sector.”
