Philippines-based Safety Financial institution has introduced a brand new collaboration with Entrust.
The partnership will assist the monetary establishment improve its digital Know Your Buyer (eKYC) and digital onboarding processes.
Headquartered in Minneapolis, Minnesota, Entrust is a veteran of Finovate’s developer conferences in 2015 and 2016.
Identification-as-a-Service (IDaaS) innovator Entrust has entered into a brand new collaboration with main Philippines-based monetary establishment Safety Financial institution. Safety Financial institution has turned to Entrust to assist it enhance its digital Know Your Buyer (eKYC) course of as a part of the establishment’s digital transformation targets.
“Safety Financial institution is remodeling digital banking within the Philippines, and we’re proud to help their imaginative and prescient with superior identification verification that makes onboarding each safer and handy,” stated Entrust Regional VP of Gross sales, APAC, Harvinder Singh. “Our answer helps Safety Financial institution ship the expertise their clients anticipate, whereas sustaining the very best requirements of safety and fraud prevention.”
Established in 1951, Safety Financial institution has deployed Entrust’s Onfido Studio platform. The expertise combines sturdy safety features with superior fraud detection capabilities together with as deepfake detection. The establishment will even be capable to leverage the platform’s flexibility to construct personalized onboarding workflows whereas staying compliant with native rules. The financial institution has already pointed to measurable outcomes, together with a rise within the variety of buyer onboarding completions, in addition to decreased onboarding occasions.
The financial institution’s partnership with Entrust comes because the digital banking market within the Philippines is predicted to expertise important growth. Analysis from Statista factors to a projected compound annual development price of 31% by 2029. At this tempo, the digital banking market is predicted to achieve a market quantity of $2.16 billion. To this finish, Safety Financial institution is bringing innovation and modernization to each its eKYC course of and its total digital onboarding journey.
“By leveraging Entrust’s superior identification verification expertise, we’re not solely enhancing the safety and accessibility of our banking companies but in addition guaranteeing that each buyer interplay—digital or in-person—is handy and dependable,” Safety Financial institution SVP and Division Head Juan Mestas defined. “Wanting forward, we plan to develop these capabilities throughout different companies to provide clients the very best expertise doable.”
Entrust is a veteran of Finovate’s developer conferences, having participated in each FinDEVr Silicon Valley 2015 and FinDEVr Silicon Valley 2016. Within the years since, the corporate has grown into an identification and entry administration platform supplier that has issued greater than 20 billion cost playing cards since inception, and protects greater than 100 million workforce and client identities. The agency was named a Challenger within the 2024 Gartner Magic Quadrant for Entry Administration and a Chief for Identification Verification.
Entrust got here out of the gates strongly in 2025. In January, the corporate launched its Artista RS4 Instantaneous Issuance System to boost card issuance and safety. Additionally in January, the corporate streamlined its Public Key Infrastructure (PKI) with the launch of PKI Hub, which offers visibility, administration, and automation for cryptographic property. Entrust additionally unveiled its AI-powered facial biometric authentication functionality for its Identification-as-a-Service (IDaaS) platform within the first month of the yr.
Photograph by Christian Paul Del Rosario
Views: 1
