BPI Strengthens Mobile App Security to Safeguard Customers
BPI Strengthens Mobile App Security to Safeguard Customers
The Bank of the Philippine Islands (BPI) takes another step forward in the fight against cybercrime by integrating new security features into its mobile banking app. This move aligns with BPI’s commitment to both customer obsession and staying ahead of the curve in cybersecurity.
Combating Evolving Cyberthreats
“Cyberattacks are becoming more sophisticated,” acknowledges Jonathan John Paz, BPI Enterprise Information Security and Data Protection Officer. He emphasizes the importance of continuous innovation and education to combat these threats and maintain customer confidence in digital banking.
New Security Features Empower Users
BPI’s upgraded app boasts three new user-activated security controls:
- Device Binding: Acts as a digital lock, granting access only from authorized mobile numbers and devices.
- Mobile Key: A convenient and secure alternative to OTPs, utilizing a user’s trusted device biometrics for transaction authentication.
- Customized Limits: Allows users to set spending limits, providing greater control over their finances based on their risk tolerance.
Enhanced Protection Behind the Scenes
BPI has also implemented additional security measures that operate in the background. These features include:
- Network security checks to ensure safe connections.
- Flagging of suspicious proxy connections that might attempt to steal sensitive data.
- Monitoring for unsecure or rooted devices which could be exploited by fraudsters.
Shared Responsibility for Secure Banking
While the app receives a security boost, Paz reminds users to remain vigilant. He advises against clicking suspicious links, sharing OTPs, and connecting to public WiFi hotspots.
“Cybersecurity is a shared responsibility,” Paz emphasizes. “Combining robust security controls with user vigilance creates a safe banking experience for everyone.”
Boosting Financial Inclusion
BPI Strengthens Mobile App the security upgrade is also seen as a strategic move for financial inclusion. “Increased app security will encourage mobile banking adoption, allowing us to reach more Filipinos and offer more inclusive financial services,” explains Paz.
Digitalization with Security at the Core
Fitzgerald Chee, BPI Consumer Platforms Head, reiterates the importance of security in BPI’s digitalization journey. “These proactive measures are needed to ensure a secure, sustainable, and successful digital future for the bank,” he concludes.
BPI’s mobile app continues to evolve, prioritizing both user safety and fostering financial inclusion in the Philippines.
