HBL, Pakistan’s largest bank and a key component in the UAE’s banking sector since 1967, has launched a new internet banking platform which not only enhances customer experience – but also addresses the importance of cyber security.
During the e-Crime and Information Security Congress in Abu Dhabi last month, cyber security experts predicted an increase in cyber crimes in the UAE during the latter stages of 2014 – with critical infrastructures such as banks the most at risk.
With the launch of the new online platform – now available to both corporate entities and individuals – HBL is continuing to try and stay ahead of what is unequivocally a worldwide threat.
The three-month long exercise has enhanced speed, user experience and most notably security – ensuring customers can access account information at anytime from anywhere in the world more quickly and safely. It is the latest in a series of recent high-tech customer-focused initiatives from the bank.
In an attempt to resist the constant evolution of online threats, HBL has adopted some of the strongest forms of security commercially available, without compromising on the overall user experience. These measures include the implementation of powerful firewalls and secure SSL encryption to protect login details and safeguard the personal financial information of their clients.
“One of the many challenges we face in the second decade of the 21st century is dealing with cyber attacks. These [security] controls enable us to accurately authenticate a person’s identity when they access our internet banking system – helping protect their personal information from potential cyber intruders,” explained Afaque Majeed, Officiating Regional General Manager at HBL.
A recent study revealed 1.5 million people were exploited by cyber-criminals in 2012, amounting to cumulative financial losses to the tune of AED 1.55 billion. Just three weeks ago, experts once again highlightedthe GCC as one of the prime global targets of cyber criminals, with the average cost of remediating data breaches close to AED 19.8 million.
“We aim to provide clients with a much more secure and, at the same time, convenient mode of interacting with the bank – both for seeking information about their accounts – as well as issuing instructions for transactions,” added Ahmed Farooq, Head of Retail Banking – Gulf at HBL.
“We continually strive to provide our customers with solutions that enable them to manage their financial affairs in an efficient and secure manner, from anywhere in the world. With more customers using internet banking, we are as committed as ever to protecting their financial information and privacy,“ Majeed concluded.
