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.
Id-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 objectives.
“Safety Financial institution is reworking digital banking within the Philippines, and we’re proud to help their imaginative and prescient with superior id verification that makes onboarding each safer and handy,” mentioned Entrust Regional VP of Gross sales, APAC, Harvinder Singh. “Our resolution helps Safety Financial institution ship the expertise their clients count on, 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 security measures with superior fraud detection capabilities together with as deepfake detection. The establishment may even be capable of leverage the platform’s flexibility to construct personalized onboarding workflows whereas staying compliant with native laws. 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 anticipated to expertise vital growth. Analysis from Statista factors to a projected compound annual development fee of 31% via 2029. At this tempo, the digital banking market is anticipated 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 general digital onboarding journey.
“By leveraging Entrust’s superior id verification expertise, we’re not solely enhancing the safety and accessibility of our banking providers 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. “Trying forward, we plan to broaden these capabilities throughout different providers to offer clients the very best expertise attainable.”
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 id and entry administration platform supplier that has issued greater than 20 billion fee playing cards since inception, and protects greater than 100 million workforce and shopper identities. The agency was named a Challenger within the 2024 Gartner Magic Quadrant for Entry Administration and a Chief for Id Verification.
Entrust got here out of the gates strongly in 2025. In January, the corporate launched its Artista RS4 Prompt Issuance System to reinforce card issuance and safety. Additionally in January, the corporate streamlined its Public Key Infrastructure (PKI) with the launch of PKI Hub, which gives visibility, administration, and automation for cryptographic property. Entrust additionally unveiled its AI-powered facial biometric authentication functionality for its Id-as-a-Service (IDaaS) platform within the first month of the 12 months.
Picture by Christian Paul Del Rosario
Views: 1
