UnionDigital Bank has partnered with iProov, a provider of biometric identity assurance solutions, to strengthen its defenses against account takeovers and money mule activity.
The digital bank has implemented iProov’s Dynamic and Express Liveness technologies as part of its risk-based authentication framework. The system allows UnionDigital Bank to apply stronger verification for high-risk transactions while keeping day-to-day banking simple and secure for users.
According to the bank, the adoption comes at a time when the global financial sector is facing increasingly complex cyber threats because artificial intelligence (AI). Account takeover and mule activity, where fraudsters gain illegal access to accounts or use them to move illicit funds, have been areas of growing concern in the Philippines.
To address these risks, UnionDigital Bank upgraded its earlier device-based biometric system to align with tighter security expectations from financial regulators, including the Bangko Sentral ng Pilipinas.
“Our mission is to uplift the lives of all Filipinos through a secure, trusted, and accessible digital bank for all Filipinos, and that requires deploying resilient infrastructure capable of addressing sophisticated fraud,” said Russell Hernandez, chief information security officer of UnionDigital Bank. “As we shift toward risk-based authentication, we need a flexible and future-ready solution.”
Hernandez added that iProov’s technology offers the balance of security and user convenience the bank needs.
“Its proven ability to deliver ease of use, speed, and high security assurance, backed by reliable vendor support, ensures we can evolve our fraud defenses while sustaining customer trust and confidence,” he said.
iProov’s two liveness solutions enable the bank to choose the right verification method for each transaction. Express Liveness provides quick verification for actions such as increasing transaction limits, while Dynamic Liveness offers stronger protection for activities like logging in from a new device.
“Our technology provides the highest level of identity assurance on virtually any device to provide that protection,” said Andrew Bud, founder and CEO of iProov. “This ensures UnionDigital Bank can secure all its customers with an effortless and resilient solution, which is especially crucial for underbanked communities who rely on mobile devices for their financial needs.”