First International Bank of Israel chooses Transmit Security for authentication.

BANKING AND CREDIT NEWS-January 26, 2017-First International Bank of Israel chooses Transmit Security for authentication

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Transmit Security, the programmable authentication company, has been chosen by First International Bank of Israel (FIBI) to meet regulatory mandates that require the implementation of risk-based multi-factor authentication and nonrepudiation, the company said.

The Transmit Security Platform (SP) eliminates software coding and allows FIBI to reduce the time it takes to add new biometric and mobile identity verification techniques to its customer facing applications by 90%.

FIBI is among Israel's five largest banking groups. It provides a range of financial products and services to customers with the highest standards of professionalism and service.

FIBI group includes the parent company, First International Bank, and its banking subsidiaries in Israel: Otsar Ha-Hayal Bank and Massad Bank.

Together, the three banks operate a network of over 172 branches. FIBI has assets of over NIS 125bn and maintains a stable capital base that is among the largest in the banking system and indicative of the Group's financial strength.

Transmit Security allows organizations to implement frictionless omni-channel authentication without making any modifications to their applications. The company's technology supports any authentication technology, from any vendor, in one modular, micro-services platform that enables application owners to slash time-to-market and cost-to-market for new identity related projects.

Transmit Security is self-funded, and based in Boston and Tel-Aviv.

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