Rang-Ay Bank, one of the longest-established banks in the Philippines, has expedited a strategic cybersecurity partnership with PLDT Enterprise involving the implementation of ePLDT’s Vulnerability Management as-a-Service (VMaaS). The move aims to advance the safety of the bank's online and mobile banking services, driven by an upsurge in digital transactions and the bank's business expansion.
Rang-Ay Bank is distinguishing itself as the first with PLDT Enterprise to implement VMaaS into its critical areas, including mobile applications, database servers, core banking systems, mobile banking servers, and payment hub servers. The bank has demonstrated its resilience by proactively embracing ePLDT's VMaaS. This strategy prepares the bank to successfully identify and address any security vulnerabilities within its environment as it plans expansion and launches additional branches.
Rang-Ay Bank has partnered with PLDT Enterprise since 2009, initially leveraging the latter’s Enterprise Broadband to resolve slow internet connection issues in the region. The lasting partnership between the two organisations has catalysed significant improvements in connectivity services for the bank.
With the new VMaaS implementation, Rang-Ay Bank heralds a pioneering approach to cybersecurity by enrolling major service areas, including mobile applications, the database server, the core banking system, the mobile banking server, and the payment hub server.
Mitch Locsin, First Vice President and Head of Enterprise and International Business Groups at PLDT and Smart, spoke on behalf of PLDT Enterprise, highlighting the importance of VMaaS to customers. "As technologies continue to evolve and industries continue to transform, this service allows us to empower our partners with secure and reliable solutions to help them propel their business visions," said Locsin. According to Locsin, the ultimate goal is to endorse Rang-Ay’s vision for a secure financial sector fully.
Concurrently, PLDT Enterprise is fully dedicated to its customers, including Rang-Ay Bank. The telecoms firm has vowed to support cybersecurity for a robust banking industry, particularly for businesses in provincial areas. With this most recent vulnerability management service, the importance of developing a secure and reliable banking industry and guaranteeing its extensive advantages for customers is a crucial consideration for the ongoing partnership.
The Rang-Ay Bank has warmly welcomed the continued collaboration with PLDT Enterprise and ePLDT. Ives Nisce, Chairman of Rang-Ay Bank, said, "We at Rang-Ay Bank are very excited about this continuing transformative partnership, one that promises to completely change and enhance the way rural financial institutions approach cybersecurity and technological resilience." The newly-forged union underlines Rang-Ay Bank's commitment against the rising tide of cybersecurity threats.
Wrapping up, Ives Nisce stated: "By combining Rang-Ay Bank’s 67 years of experience in providing financial services in the countryside and partnering with PLDT Enterprise and ePLDT’s world-class technology, the collaboration provides us with the tools and intelligence required to detect vulnerabilities in real-time, analyse them comprehensively, and mitigate them swiftly."