CTBC Bank Philippines, in collaboration with Hitachi Asia, has redesigned its web interface and mobile banking applications for retail clients to enhance user experience and upgrade security features.

The redesigned application, Retail NetBanking, introduces a modern and user-friendly dashboard. The revamped interface presents a unified, at-a-glance view of users’ financial products, which simplifies navigation, streamlines functionality, and enhances the overall user experience. With personalized widgets and customizable features, users can prioritize the information that matters most to them.

In the face of rising cyber threats to the financial services industry, Retail NetBanking integrates a suite of advanced security measures to safeguard user data, and assure users of their privacy and financial information.

In addition to requiring the input of user ID and password, a time-based one-time password (OTP) system is introduced to fortify defences against unauthorized access.

Device recognition technology detects and remembers trusted devices for an added layer of verification, while secure socket layer (SSL) encryption creates a secure and encrypted link between the user's device and the banking servers, ensuring that all data transmitted remains private and integral.

The bank says it plans to introduce even more security features, including biometric authentication for transaction, to provide users with both ease of access and peace of mind regarding their financial transactions.

Under the Bangko Sentral ng Pilipinas’ (BSP) Digital Payments Transformation Roadmap for 2020-2023, the Philippines had sought to digitize 50% of all retail transactions and to broaden financial inclusion to encompass 70% of Filipino adults through the facilitation of digital payment and transaction accounts. BSP Deputy Governor Mamerto Tangona was quoted as saying in February that the country had reached the 50% target on digital retail payments transactions by the end of 2023.

In alignment to the BSP roadmap, Hitachi Asia says it will supply cutting-edge internet and mobile banking solutions tailored for CTBC Bank Philippines’ retail clients.