IBM has signed a deal for an undisclosed amount with Federal Bank to provide a security layer on the Federal Bank’s mobile application. The App 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 utilize services such as top-up or recharge of mobile phones and payment of school fees, was developed on IBM’s MobileFirst platform.
Vaibhav Khandelwal, Trusteer leader at IBM said, “Federal Bank, like many financial organizations, identifies that even if their mobile banking systems are secure, the compromising weak link in the chain is the endpoint device.”
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The Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala.