UnionDigital deploys liveness solutions to improve protection vs cyberthreats
UNIONDIGITAL Bank, Inc., the digital bank subsidiary of Union Bank of the Philippines, has partnered with identity verification provider iProov to help protect its customers against account takeover and money mule activities.
UnionDigital has deployed iProov Dynamic and Express Liveness solutions for its risk-based authentication strategy to ensure secure online transactions in a frictionless manner, it said in a statement.
“As we shift toward risk-based authentication, we need a flexible and future-ready solution. iProov’s internationally proven ability to deliver ease of use, speed, and high security assurance — backed by reliable vendor support — ensures we can evolve our fraud defenses while sustaining customer trust and confidence,” UnionDigital Bank Chief Information Security Officer Russell Hernandez said.
UnionDigital said it has upgraded its previous device-based biometrics technology as part of its efforts to improve consumer protection, especially amid the rise in cyberthreats targeting the financial services sector that have become more sophisticated with the help of artificial intelligence.
iProov’s dual liveness solutions, in particular, give the bank flexibility in terms of identity assurance and fraud detection for any type of transaction, UnionDigital said. Express Liveness provides quick verification for transaction limit increases, while Dynamic Liveness heightens fraud resilience for new device log-ins.
“This enhances security and deepens customer confidence while maintaining a seamless user experience, a model the bank plans to expand in the future,” it said.
“Proving that someone is who they claim to be online is at the heart of digital trust. Our technology provides the highest level of identity assurance on virtually any device to provide that protection. This ensures UnionDigital Bank can secure all its customers with an effortless and resilient solution, which is especially crucial for underbanked communities who rely on mobile devices for their financial needs,” iProov founder and Chief Executive Officer Andrew Bud said.
The Anti-Financial Account Scamming Act signed in July 2024, aims to help prevent and penalize digital financial cybercrime like money mule activities.
As part of the law’s implementation, the Bangko Sentral ng Pilipinas has required its supervised financial institutions to implement stricter information technology risk management measures to protect their customers from fraudulent schemes done online. These include adopting fraud management systems, as well as safeguards like the limitation on the use of interceptable authentication mechanisms like one-time passwords.
UnionDigital booked a net loss of P3.13 billion in 2024, a reversal from the P155.31-million net income recorded in 2023, its financial statement posted on its website showed. — A.M.C. Sy













