March 21, 2023

OFBank issues warning against cybersecurity risks

The digital bank reminded its clients of the importance of understanding cybersecurity risks.

Bankero, Overseas Filipino Bank (OFBank) President and CEO Leila Martin emphasized that OFBank uses technology to minimize risks to its clients, but clients also need to reinforce safety in the digital space.

In an interview, the Bankero said that the bank has more stringent consumer protection protocols through the OFBank Mobile App, which utilizes artificial intelligence to facilitate an electronic know-your-customer (e-KYC) process to verify and validate uploaded application information and requirements.

The app also implements advanced encryption and security technology that protects sensitive information.

The bank further enhance its digital security, the Bankero added that cybersecurity is a two-way street where customers play an important role, while reminding their customers of mindful online behavior reinforces the security that technology solutions provide.