KUALA LUMPUR, Feb 7 (Bernama) -- Sumitomo Mitsui Banking Corporation (SMBC) will launch its Internet Banking for B2B transaction services in March 2017. Despite the threats of phishing and PC hijacking, SMBC is forging ahead with its Internet Banking for B2B transactions while continuing its efforts to ensure safe and secure internet banking environment for its customers. One of the latest security measures to this effect will be the deployment of its One Flick Authentication Service on the smartphone platform. Powered by TheGRID^TM Beacon 2-Factor Authentication, a technology pioneered and patented by e-Lock Corporation Sdn. Bhd. (e-Lock), an IT security FinTech company based in Malaysia with an office in Tokyo, Japan. SMBC will explore and extend this authentication service to the Bank’s other wide ranging online services.
 
TheGRID^TM Beacon 2-Factor Authentication Solution allows Internet based financial service providers to address its current and future threats of online identity thefts. Its multi-layered protection model ensures that online customers’ confidential information is always protected and secured. 
 
According to Mr. Takeshi Kunibe, the President of Sumitomo Mitsui Banking Corporation, “Developing the One Flick Authentication service together with NEC and leveraging on e-Lock’s internationally patented ON/OFF authentication technology, it is now possible to introduce various Internet Banking services securely on the smartphone platform”.
 
Dr Ken Leong, Founder and Chief Executive Officer of e-Lock added, “SMBC Japan validates e-Lock’s TheGRID^TM Beacon authentication technology, robustness of the security, and scalability of the solution. We are thankful and extremely proud to be selected by one of the global banking giants, SMBC. In addition, the close collaboration with our Japan partner, NEC Corp, was also highly instrumental in ensuring a smooth and successful integration to SMBC’s Internet Banking for Business infrastructure and timely service roll out within the project timeline.”
 
TheGRID^TM Beacon 2-Factor Authentication technology essentially transforms smartphones into secure authentication devices, empowering corporate users to be in full control of their own Internet Banking accounts and transactions.  TheGRID^TM Beacon's "ON/OFF" feature allows a user to fully disable account login access to prevent unauthorized login attempts with stolen passwords, whereas its "Transaction Approval" feature makes it mandatory for the user to review and authorize a transaction using the smartphone before the transaction is executed.  All these security features make TheGRID^TM Beacon a highly cost-effective solution to battle online fraud and phishing.
 
About e-Lock Corporation Sdn. Bhd.
e-Lock is one of the top and oldest Asean leading providers of complete IT security solutions to various clients in both private and public sectors, particularly in banking, finance, large corporations and governments. Headquartered in Kuala Lumpur, Malaysia, with a branch office in Kojimachi, Chiyoda-ku in Tokyo, its security solutions are available in Japan, Taiwan, Thailand, Hong Kong, Singapore, Indonesia, and USA. e-Lock is also a member company of Permodalan Nasional Berhad (PNB) and UMW Holdings Berhad (UMW).
 
About Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation (SMBC) was established in April 2001 through the merger of two leading banks: The Sakura Bank, Limited, and The Sumitomo Bank, Limited. Sumitomo Mitsui Financial Group, Inc., was established in December 2002 through a stock transfer as a bank holding company, and SMBC became a wholly-owned subsidiary of SMFG. In March 2003, SMBC merged with the Wakashio Bank, Ltd. SMBC’s competitive advantages include a strong customer base, the quick implementation of strategies, and an extensive line-up of financial products and services that leverage the expertise of strategic Group companies in specialized areas. SMBC, as a core member of SMFG, works together with other members of the Group to offer customers highly sophisticated, comprehensive financial services.
 
About NEC Corp, Japan
For more than a century, NEC has been at the leading edge of technology that enriches people's lives. Today, as a major provider of ICT solutions for society, NEC collaborates closely with partners and customers around the world, bringing together sensors, computing, networking and analysis. NEC applies this expertise to create active data solutions that predict, monitor, and solve challenges, respond intelligently to adverse events, and turn unseen information into actionable wisdom. Every day, our innovative solutions for society contribute to greater safety, security, efficiency and equality, and enable people to live brighter lives.

Source : UMW Corporation Sdn. Bhd.

FOR MORE INFORMATION, PLEASE CONTACT :
e-Lock’s Public Relations Department
Tel : +603-2166 2981
Fax : +603-2166 2982

--BERNAMA