BankMobile to Protect Mobile Banking Customers with DIGIPASS for Apps Mobile Application Security Suite

OAKBROOK TERRACE, IL -- December 8, 2016 -- VASCO Data Security International, Inc. (NASDAQ: VDSI), a global leader in digital solutions including identity, security and business productivity, today announced that BankMobile, a division of Customers Bank, and America’s fastest growing mobile-first bank, will implement DIGIPASS® for Apps mobile application security solution with Runtime Application Self-Protection (RASP) in its mobile banking application. DIGIPASS for Apps delivers the highest level of security to protect against sophisticated hacking attacks while providing a frictionless experience for BankMobile’s customers.

The increasing adoption of mobile banking has resulted in more frequent hacking attacks against banks and their customers. By integrating security measures like those available in DIGIPASS for Apps, banks are able to boost transaction security without compromising the customer experience as most of the security processes take place in the background with limited need for customer involvement.

Using the DIGIPASS for Apps SDK, developers can integrate a suite of mobile application security solutions directly into their bank’s mobile application. At BankMobile, developers have built in security features including:

• Geolocation verification to identify normal banking location patterns

• Device ID and device binding to confirm whether a customer is using a trusted device

• Fingerprint authentication to verify the banking customer using biometrics • Jailbreak and root detection to verify that the mobile phone has not been compromised

• Risk-based authentication to identify anomalous behavior and potentially fraudulent activity on the mobile banking account

BankMobile is also implementing RASP to thwart mobile banking hacking attacks. RASP helps defeat hacking attacks in two ways: by protecting the mobile application against reverse engineering and the introduction of malicious code, and by identifying the presence of malware attempting to interfere with the normal operation of the mobile banking application. This means that even if a BankMobile customer inadvertently downloads malware onto their phone, their mobile banking transaction will still be protected.

“With VASCO’s help, we are really writing the next chapter in consumer banking by disrupting the industry, providing a mobile-first experience that is second-to-none,” said Dan Armstrong, Chief Digital Officer at BankMobile. “As we continue our incredible growth in 2017 with VASCO as a partner, we feel we can truly scale, differentiate and provide best-of-breed security – three goals which are traditionally really hard to achieve at once.”

“It is exciting for us to work so closely with a company that shares our passion for innovation and a great user experience,” commented Scott Clements, President and COO of VASCO. “The secret to success in the new digital era is to deliver trust in a manner that is completely seamless and transparent to the user.”

“We are delighted to bring the highest level of security to our users and the best part is that they probably won’t even know it’s there because all of the security takes place in the background where it has no impact on the user experience,” stated Jay Sidhu, CEO and Chairman of BankMobile. “We are delivering both a level of security and consumer protection that we feel others will be forced to follow.”

About BankMobile
Established in 2015, BankMobile, a division of Customers Bank, is America’s largest mobile-first bank, offering fee-free checking and savings accounts. It provides target customers – millennials, the underbanked and middle income households with a digital, effortless and financially empowering experience. BankMobile offers checking, savings, lines of credit, joint accounts and access to over 55,000 surcharge-free ATMs nationwide (BankMobile VIP customers have free access to every ATM in the country, which is more than 400,000 ATMs), a guaranteed higher savings rate than the top four banks in the nation, a personal banker for all customers, and a free financial advisor for VIP customers. BankMobile is operating as the digital banking division of Customers Bank, which is a Federal Reserve regulated and FDIC-insured commercial bank. For more information, please visit www.bankmobile.com.

About VASCO
VASCO is a global leader in delivering trust and business productivity solutions to the digital market. VASCO develops next generation technologies that enable more than 10,000 customers in 100 countries in financial, enterprise, government, health care and other segments to achieve their digital agenda, deliver an enhanced customer experience and meet regulatory requirements. More than half of the top 100 global banks rely on VASCO solutions to protect their online, mobile and ATM channels. VASCO’s solutions combine to form a powerful trust platform that empower businesses by incorporating identity, fraud prevention, electronic signatures, mobile application protection and risk analysis. Learn more about VASCO at VASCO.com and on Twitter and LinkedIn.

Copyright © 2016 VASCO Data Security, Inc., VASCO Data Security International GmbH. All rights reserved. VASCO®, and DIGIPASS® are registered or unregistered trademarks of VASCO Data Security, Inc. and/or VASCO Data Security International GmbH in the U.S. and other countries.

VASCO Data Security Contact:
Corporate Communications:
Sarah Hanel
+1-250-216-1762 (US) or +32 2 609 97 00 (ROW)
[email protected]

BankMobile Contact:
Kati Bergou
Rubenstein Public Relations
212-805-3014
[email protected]