IBM signs security pact with Federal Bank for mobile app

NEW DELHI: IBM has signed a deal for an undisclosed amount with Federal Bank to provide a security layer on the Kochibased lender’s mobile application which will also warn the users in case they attempt a transaction over an insecure network or through an infected device.

The app, called FedMobile, which can be used to transfer funds, make utility bill payments and utilise services such as top-up or recharge of mobile phones and payment of school fees, was developed on IBM’s MobileFirst platform.

“Within the mobile ecosystem, we realised that the customer machines were the point of compromise and these had to be safeguarded to build customers’ confidence. IBM’s Trusteer Mobile solution equipped us to stop these attacks from coming in from unsecured customer device,” said Johnson K Jose, IT head at Federal Bank.

Vaibhav Khandelwal, Trusteer leader at IBM said, “Federal Bank, like many financial organisations, identifies that even if their mobile banking systems are secure, the compromising weak link in the chain is the endpoint device.”