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FINANCIAL/LEGAL SERVICES COMPANY INSTITUTIONAL PROTECTION DEPLOYS SCALE COMPUTING TO FUTURE PROOF IT ENVIRONMENT

Institutional Protection (IP) chose the HC3 platform to deliver business continuity, simplified IT management, scalability and compliance demands.

 

 

Scale Computing, a market leader in edge computing, virtualisation, and hyperconverged solutions, today announced that London-based, financial/legal services company, Institutional Protection (IP), has deployed the HC3 platform to enhance its IT infrastructure along with a secondary off-site disaster recovery node for business continuity. Since deployment, IP has benefited from improved performance, reduced management time and scalability, helping to plan for future capacity demands.

 

Institutional Protection (IP) is a global class and group investor action specialist, providing services exclusively for institutional investors. IP is a technology-led company, which uses its own proprietary software to monitor shareholder actions and financial antitrust cases around the world. IP provides recovery and advisory services its clients, to help manage the risk of their participation in investor actions, whilst maximising clients’ recovery of losses relating to corporate non-disclosure, misrepresentation or fraud. As part of its recent rapid expansion, IP decided to upgrade its IT Infrastructure to meet its current and future needs.

 

IP considered options from competitors, as well as looking into the possibility of building its own hyperconverged platform using open source. However, after a hands-on demonstration and further research, the company decided to deploy the Scale Computing HC3 platform through reseller NAS UK.

 

Richard Goss, Sales Manager at NAS UK commented, “IP was looking for a simple and easy to manage IT environment that would offer support now and in the future. Scale Computing’s cluster is perfect for organisations such as this offering complete simplicity and scalability through its data centre in a box.”

 

With the HC3 platform deployed, IP has been able to save on time and resources. The cluster offers a complete platform with no additional software to license, training or certification. In addition, Scale Computing provides the ability to add nodes, as and when needed, creating a flexible scale-out architecture. With the additional off-site disaster recovery node in place, IP is also taking advantage of enhanced business continuity and geographical resilience which meets compliance demands. Scale Computing offer cloning, regular snapshots and failover and backup testing to safeguard against IT disruption.

 

“One of our major challenges was the ability to add capacity as planning for future resources was challenging, but with Scale Computing we can simply scale-out as and when needed,” commented Andrew Ingram, CIO at IP. “In addition, the added flexibility and simplicity from the hyperconverged platform means we can operate a lean IT team, which continues to add value to our growing business.”

 

Johan Pellicaan, VP and MD EMEA at Scale Computing added, “IP is driving technology innovation and we are pleased to have been able to help and support the organisations on its modernisation  programme. Scale Computing offers the ability to reduce costs, simplify management and add capacity as and when needed, ideal for organisations such as IP where future capacity planning is a major challenge.”

 

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SONY BANK SECURES AND ENHANCES MOBILE BANKING WITH ONESPAN’S MOBILE SECURITY SUITE

SONY BANK

App shielding, biometric authentication and additional technologies secure and improve the customer experience for Sony Bank’s mobile banking app

 

OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that Sony Bank is protecting its mobile banking transactions with OneSpan’s Mobile Security Suite. OneSpan helps the bank secure and improve the customer experience by detecting and preventing mobile threats in the background, while integrating convenient features like facial recognition and fingerprint biometrics.

 

Mobile banking adoption continues to increase and the frequency of mobile attacks like malware and trojans continue to rise. Sony Bank was able to address both customer experience and security by launching its banking app and securing it using OneSpan’s suite of mobile SDKs. Mobile Security Suite integrates application security, biometric authentication and Application Shielding, which detects and mitigates fraudulent activities and helps ensure the integrity and protection of apps and data.

 

“Addressing security and customer convenience was key for us, and with OneSpan’s solutions we are able to achieve both,” said Sony Bank Senior Manager of the Systems Planning Department, Shuichiro Sumimoto. “The technology comprehensively protects the device and the application, while providing an easy way for our customers to complete mobile transactions.”

 

“OneSpan’s Trusted Identity solutions enable banks to simultaneously fight an ever-increasing number of threats while ensuring a seamless and easy customer experience,” said OneSpan CEO, Scott Clements. “With Gartner predicting that by 2022, at least 50% of successful attacks against mobile apps could have been prevented using in-app protection,[i] Sony Bank is taking the right steps to future-proof its business.”

 

While mobile threats are on the rise, so too are regulations designed to make banking more secure and transparent. In particular, the global move toward Open Banking has triggered regional regulations such as the Amended Banking Act of 2017 or the Second Payment Services Directive (PSD2) in Europe. Using OneSpan’s technology, Sony Bank can address today’s PSD2 requirements with the aim of using the technology to address potential future regulations.

 

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KOREA’S KB BANK USES TRUSTONIC IN-APP PROTECTION TO ENHANCE MOBILE BANKING EXPERIENCE

MOBILE BANKING

Using Trustonic Application Protection enables KB Bank to dramatically improve the authentication experience for users of its mobile banking app and allow secure high value transactions

 

Mobile cybersecurity leader, Trustonic, today announces the successful implementation by KB Kookmin Bank (KB Bank) of Trustonic Application Protection (TAP™) to enable a simpler authentication experience for users of its KB Star Banking app. By combining TAP with its new digital authentication certificates, the bank is dramatically simplifying customers’ access to banking services and enabling them to authenticate higher value transfers in-app, without the need for cumbersome user authentication practices like security tokens.

The largest Korean bank by number of mobile users, KB Bank provides online and mobile banking services to over 10 million customers. Trustonic’s mobile application protection is enabling the bank to provide faster, simpler and more secure digital banking services by isolating authentication certificates in the hardware security of today’s smartphones. Since launching in summer 2019, the app has acquired 3 million active users, and adoption among KB Bank customers continues to grow rapidly.

Mr. Han, Senior Executive Vice President, Kookmin Bank commented: “In Korea, users need to install authentication certificates to use mobile banking services. This can be a complex and time-consuming process that often requires revalidation and multiple passwords. With our long-standing partner Trustonic, we are able to vastly improve the in-app user experience and allow our users to authorize much higher value transactions. Some security solutions make you choose between security, user experience and performance but with TAP there’s no compromise.”

 

Enhancing user experience & enabling high-value transactions with advanced security

Historically, public certificates need to be regularly renewed by the app user, which can be frustrating and time consuming. Now, because the new KB Mobile Certificates have the advanced in-app protection provided by TAP, they do not need to be renewed unless revoked by the customer or unused for one year. This significantly simplifies and enhances the user experience.

High-value in-app payments are now possible because of this advanced protection. KB Bank customers can transfer up to 2 million won (approx. $1,700 US) using their account password, and up to 50 million won (approx. $41,000 US) with a password and six-digit PIN. Amounts between 50 million won and 500 million won (approx. $413,000 US) can be verified by entering their password and PIN before receiving an additional authentication code via an automated phone call.

 

Improving in-app functionality through trust

The TAP in-app protection platform protects mobile applications by securing sensitive code, data and processes in a highly protected environment. The environment dynamically upgrades over the course of an app’s lifecycle to take advantage of the most advanced hardware and software security technologies available on smartphones. Banking, payment, acceptance and fintech app developers benefit as they can use the TAP SDK to build secure next-generation experiences.

Dion Price, CEO of Trustonic, says: “Korea’s certificate-based authentication infrastructure has historically limited the user experience for mobile banking apps. By making its banking app more seamless and secure with Trustonic’s unique combination of hardware and software in-app protection, KB Bank has vastly improved the user experience. This is a perfect example of how advanced security can enrich apps for end users, which is why TAP is being adopted to protect financial services across payments, banking, fintech and mPOS.”

For more information about how TAP is enhancing both security and user experiences, visit the Trustonic website.

 

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