Leading Bank in Turkey Uses OneSpan’s Mobile App Security Solution to Handle Doubling of Demand from COVID-19
OneSpan’s scalability helps DenizBank protect millions of mobile banking users as the coronavirus pandemic drives massive increase in hacking attacks
CHICAGO and ISTANBUL – May 26, 2020 – OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that leading Turkish bank, DenizBank, is using OneSpan’s Mobile Security Suite to protect 2.6 million mobile customers across the bank’s mobile banking app MobilDeniz, mobile wallet fastPay and card management application DenizKartım.
Mobile attacks like malware and banking trojans have been increasing at an alarming rate during the pandemic as mobile transactions increase. During this time, DenizBank’s daily mobile banking transactions volume has more than doubled. Using anti-fraud solutions from OneSpan, including Cronto visual transaction signing, DenizBank is able to help fight increases in fraud in a way that is scalable and seamless for its customers.
“Our bank is driven to innovate and deliver an outstanding customer experience at all times in everything we do, which requires the convenience and scalability of technology like OneSpan’s,” said DenizBank Deputy Chief Digital Officer, Gürhan Cam. “OneSpan solutions deliver security and convenience for our customers, which is why we are also exploring how they can deliver digital account opening and risk analytics in the future.”
“Global banks are under significant pressure in responding to pandemic-driven security, customer access, and cost pressures while balancing the immediate need for expanded mobile solutions,” said OneSpan CEO, Scott Clements. “OneSpan’s technologies, like Mobile Security Suite, give banks a quick and easy way to implement security measures without compromising the user experience.”
Additionally, OneSpan’s technology helps DenizBank meet the Turkish Banking Regulation and Supervision Agency (BRSA) regulation for strong customer authentication in mobile banking applications. This competitive win sees DenizBank join Odeabank and several other banks in Turkey already using Mobile Security Suite.
DenizBank started its journey when it was acquired by Zorlu Holding in 1997 in the form of banking license from the Privatization Administration. One of the leading European financial groups, Dexia incorporated it to its structure in October 2006. On 28 September 2012, DenizBank was transferred to Sberbank, the largest bank of Russia, and as of 31 July 2019, to Emirates NBD, one of the largest institutions in the region. Aiming to create a “financial supermarket” gathering various financial services under one roof, DenizBank Financial Services Group has 749 branches in total including the branches of subsidiaries and close to 14 thousand employees operating in 81 provinces of Turkey, five domestic and three international financial subsidiaries, six domestic nonfinancial subsidiaries and a branch in Bahrain.
OneSpan helps protect the world from digital fraud by establishing trust in people’s identities, the devices they use and the transactions they carry out. We do this by making digital banking accessible, secure, easy and valuable. OneSpan’s Trusted Identity platform and security solutions significantly reduce digital transaction fraud and enable regulatory compliance for more than 10,000 customers, including over half of the top 100 global banks. Whether through automating agreements, detecting fraud or securing financial transactions, OneSpan helps reduce costs and accelerate customer acquisition while improving the user experience. Learn more at OneSpan.com.
Copyright © 2020 OneSpan North America Inc., all rights reserved. OneSpan™, the “O” logo, “BE BOLD. BE SECURE.”™ and CRONTO® are registered or unregistered trademarks of OneSpan North America Inc. or its affiliates in the U.S. and other countries.
Frauke De Graeve
Public Relations Manager
+32 497 14 80 47
Global Director of Corporate Communications