More agile and secure banking platforms
The increase in online fraud has led the banking industry to look for new ways to protect its customers. That is why we developed a comprehensive solution to ensure security in online transactions. Thus, we created Nevele Bank, a web application that simulates transfer processes in a banking environment. With the integration of our network APIs, such as Number Verification, Device Roaming Status, Location Verification, and SIM Swap, we provide advanced identity verification and multi-factor authorisation services, allowing transactions to be authorised or denied, depending on whether the user complies with different security filters. In addition, we added an extra layer of security with TU Latch, our authorisation control platform for enterprises and developers.
Goals
The rise of Fintech fraud and new cybercrime techniques, such as identity theft or unauthorised access to bank accounts, requires strengthening digital security. Methods such as identity verification and real-time location are key to protecting banking applications and providing users with a secure and reliable experience.
Results
The Number Verification API verifies that the phone number used by a user is linked to their account, reducing the risk of identity theft. The Location Verification API verifies the location of the SIM-based device for the transaction. In addition, the Device Roaming Status API verifies whether the device is roaming, preventing potential fraud related to locations outside the user’s normal parameters. Finally, the SIM Swap API identifies if there have been recent changes to the user’s SIM card, preventing possible card cloning. The combination of these microservices offers new digital security systems and enhances multi-factor authorisation methods based on context.