Philippines-based Equicom Savings Bank (EqB) has announced the adoption of a new authentication solution that looks to toughen operational security.
FSS Secure 3D, developed by payment products provider Financial Software and Systems (FSS), will aid Equicom in reducing fraud risk, identifying high-risk transactions, and adding an overall improvement to the safety of online payments for the bank’s customers.
Commenting on the announcement, the VP and Head of Consumer Division at EqB, Roussel E Larger, said: “The ecommerce environment is rapidly growing and is a growing concern. Given its deep payments expertise and growing deployment base, FSS Secure 3D is a proven solution for our needs.
“We were able to go live within a short timeframe and are confident that the solution will help us mitigate fraud risk while lowering false positives and provide a seamless payments experience for customers.”
Further remarks were also added by the CEO of FSS, Jaishankar A L, who stated: “We are delighted that EqB has selected FSS as its partner.
“Our Authentication-As-a-Service model allows EqB Bank to achieve the necessary agility as well as enhanced functionality and security for its customers. By leaving fraud prevention and regulation compliance up to the experts, Equicom can focus on what it does best.”