Introducing
As Albaraka Turk Participation Bank, we were founded in 1984 by pioneering interest-free banking in Turkey and began actively serving in 1985. Having founded under the guidance of the strong capital groups in the Middle East, Albaraka Banking Group (AGB), Islamic Development Bank (IDB) and another industry group serving the Turkish economy for more than half a century, we continue operating in Turkey in compliance with the 5411 Banking Law.
As of 30.06.2019, in our partnership structure, the share of the foreign partners is 65,99%, the share of the local partners is 8,76% and the share open to public is 25,25%.
Challenges
Mobile-first is the main strategy of Albaraka Bank. Based in Turkey and underlay the Turkish finance regulations, Albaraka searches for a proven security solution fitting their needs for a flexible and integratable technology within their existing mobile solution to get rid of SMS code distribution.
Solution
As simple as just entering your PIN, the KOBIL security stack protects user identities continuously in real time under the Dual 7-Layer Security concept. All interactions are controlled by the security server in the background. No media break disrupts the user experience by forcing users to switch between apps, as other banks do with SMS codes.
100% secure 110% user friendly.
Security features:
Smart Security Management Server PKI-based authentication end-to-end encryption through our Digitanium channel Virtual Smart Card Technology.
Results
No more costs for SMS, and even more importantly, the most secure and user-friendly solution on the market.