Bank Islam Brunei Darussalam Chooses Rambus for Its Mobile Strategy, Helping to Secure Customer Mobile Payments and Transactions
This entry was posted on Friday, January 25th, 2019.
The Bank Islam Brunei Darussalam (BIBD) takes considerable pride in its core values of integrity, customer focus, unity of purpose and excellence. The bank says it conducts itself with absolute integrity and takes complete ownership and focuses on providing solutions for its customers. Further, “We treat everyone with respect and sincerity to achieve the bank’s vision,” the bank explains, adding, “We always strive to be better.”
And BIBD’s statement of “striving to be better” speaks volumes of its technology advances it’s made to protect its customers against online fraud or losses.
To further strengthen the security structure for its customers, BIBD recently selected the Rambus Token Service Provider (TSP) as part of the bank’s mobile payment strategy to enable secure transactions to its customers.
The Rambus TSP helps secure the BIBD NEXGEN Mobile banking app. This permits customers to digitize their cards and send payments, without revealing any sensitive payment information. The Rambus software platform replaces cardholders’ details with unique reference numbers to minimize the risk of fraud and the severity of data breaches. In this instance, unique payment tokens are worthless if stolen.
Rambus TSP generates temporary personal account numbers (PANs) or payment tokens.
As a modular platform, it combines tokenization with host card emulation (HCE) to allow payment issuers and processors to securely perform a wide range of payment process roles. Using HCE and tokenization, BIBD permits their cardholders to securely make payments using their mobile app.
To learn more about the Rambus Token Service provider solution, visit here.