Singapore-born V-Key has been selected to provide a secure mobile retail banking platform for Tonik in the Philippines, underpinned by Microsoft Azure.
The partnership centres around enhancing protection levels for new customers via the digital-only bank’s mobile app, leveraging V-OS App Protection technology. Built on patented virtual secure element technology, the offering is designed to provide an additional layer of “tamper protection and security enhancements” for users.
In addition to securing sensitive processing and data, V-OS also scans for malware attacks and works against tampering and anti-fraud activities, residing on V-Key’s cloud platform which is powered by Microsoft Azure.
“At V-Key, we constantly put our solutions through stringent penetration tests and achieve global certifications to ensure we live up to the trust of our customers,” said Joseph Gan, founder and CEO of V-Key.
“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. We look forward to providing a secure environment for Tonik in order for it to serve its customers leveraging truly disruptive innovations and technologies.”
Tonik operates as a licensed digital-only bank in Southeast Asia, providing retail financial products, including deposits, loans, transactional accounts, payments and cards via a digital banking platform. Founded in 2018, the start-up recently launched operations in the Philippines, backed by support and R&D functions based in Singapore and India.
“We selected V-Key because of V-Key’s history with major banks around the region, where its solutions were well validated and tested,” added Greg Krasnov, founder and CEO of Tonik. “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.”