SINGAPORE – IPification, a leading provider of mobile authentication solutions, has partnered with Raiffeisen Bank, the Serbian subsidiary of the leading European financial institution – Raiffeisen Bank International, to integrate the IPification 1-Click Phone Number Verification solution into the bank’s mBanking application. This strategic collaboration is set to improve mobile banking security, streamline the onboarding process, and prevent phishing attacks.
By integrating IPification’s solution, Raiffeisen Bank provides its users with a frictionless, one-click phone number verification method for mobile banking activation. Unlike traditional SMS OTP-based authentication, IPification’s technology offers an instant, network-based verification process that eliminates risks associated with SIM swap fraud and phishing attempts.
IPification verifies a user’s identity against their unique Mobile ID made of the user’s SIM card, device, and network data. After inputting their number, the user is verified within milliseconds.
“We are delighted to collaborate with Raiffeisen Bank Serbia in reinforcing the security and convenience of their mobile banking services,” said Stefan Kostic, CEO of IPification. “By replacing cumbersome authentication methods with our seamless phone number verification, we are ensuring that users can securely access their accounts with minimal effort, while banks significantly reduce fraud risks.”
The integration of IPification’s solution aligns with Raiffeisen Banka Srbija’s commitment to providing its customers with cutting-edge security measures. As financial cyber threats evolve, the adoption of advanced authentication technologies remains crucial in maintaining user trust and safeguarding sensitive banking transactions.
“As part of the 2020 Elevator Lab Challenge organized by Raiffeisen Bank International and its local network banks, IPification was honored with the award for the most innovative FinTech solution at the regional level. We firmly believed in the potential of this groundbreaking technology from the outset, and we are thrilled to see it now enhancing the security and ease of use for our mobile banking app users,” said Nebojsa Jovanović, Chief Product Officer at Raiffeisen Bank.
“Due to the rise in phishing attacks, we have strengthened our security protocols and invested additional resources in robust customer identity verification before granting access to our digital banking channels. IPification stands out as one of the few solutions that perfectly balances enhanced security with a seamless customer experience, ensuring neither is compromised,” added Aleksandar Smiljković, Chief Innovation Officer.
IPification’s mobile security technology has gained significant traction among leading banks and digital service providers worldwide, offering a secure, seamless, and user-friendly authentication, phone number verification, and fraud prevention experience. The partnership with Raiffeisen Bank Serbia marks another step forward in redefining the future of mobile banking.
