American fintech firm Ondot Systems has launched its Mobile Card Services solution in Singapore and across Asia.
The platform enables banks to give customers better control and security over their credit and debit cards.
The white-label solution, which resides in the card issuer’s data center, creates an interplay between the user, payment, and data in real-time.
This capability allows customers to control the usage of their payment cards through mobile applications.
The control offered by the solution allows management of merchant categories, transaction types and alerts, spend limits, two-way fraud alerts, card activation, PIN reset, purchase history, virtual card number and dynamic CVV for secure transactions.
In addition, the solution also gives card issuers insight into merchant and transaction details, as well as allows them to develop and deploy consumer services in real-time.
Bangkok Bank CIO Ian Guy Gillard said: “Banks can provide a holistic experience to consumers and deliver new products and services over legacy systems in a cost-effective and timely manner using new micro-service platforms.
“Partners like Ondot enable banks to stay as innovation leaders while bringing in the best of fintech into banking.”