• Thu. May 26th, 2022

Cambodian bank ABA introduces IPification to protect mobile banking customers

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

IPification is a one-click mobile identity solution that allows end users to verify their phone number, register and login in milliseconds. Developed with a concern for security, user experience and data confidentiality, it will allow ABA Bank to improve the user experience on its mobile banking application and will be used instead of the one-time password system ( OTP) based on SMS currently in place. in the process of activating the application. It already has many customers around the world.

Having received numerous awards for excellence over the past decade from financial magazines such as The Banker, Global Finance and Euromoney, ABA Bank has grown into one of the leading commercial banks and digital banking leaders in Cambodia, offering a full range of services to individuals, micro-businesses and SMEs. To further enhance its advanced mobile banking solution, ABA incorporates IPification for frictionless user registration and authentication.

“We are delighted to expand our strategic partnership with Smart Axiata and become the first Cambodian bank to introduce IPification on our mobile banking app,” said Askhat Azhikhanov, CEO of ABA. “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 a simpler authentication process, while keeping the application secure. The Bank will continue to bring the latest developments to the local market, further accelerating digital transformation across the country. “

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

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

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

“Introducing the latest technologies and solutions for the benefit of users, both consumers and businesses, has always been a primary goal of Smart Axiata,” said Thomas Hundt, CEO of Smart Axiata. “Our partnership with Benefit Vantage Limited is another example of the role mobile operators play as a key catalyst in the development of the Kingdom’s economy and technology landscape. We are pleased that our strategic partner ABA is the first to provide the solution and we look forward to many more companies taking steps to improve user safety and convenience. “

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