London, UK / Sarasota, FL, Sept. 13, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — CyberloQ Technologies, Inc., a cybersecurity technology company, is pleased to announce a strategic collaboration for its proprietary MFA technology with Pannovate’s Banking Orchestration Platform.
Award winning platform Pannovate is a Banking-as-a-Service and orchestration layer that enables banks, fintech and businesses to power growth and deliver seamless digital and embedded finance experiences to transform lives, working globally with innovators, digital banks and cutting-edge startups.
CyberloQ has created the most robust, flexible and dynamic security solution available to the payments industry. By incorporating Multi-Factor Authentication, Geofencing, Access Credentials, and Comprehensive Activity Logging, CyberloQ’s Multi-Factored-Authentication (MFA) technology will be integrated into Pannovate’s Banking Orchestration Platform to create a distinct and unique cyber-security solution specifically for the banking and payment industry. The Banking Orchestration Platform will be equipped with the most comprehensive security suite available for combating fraud for its clients, and will be modular and scalable, thereby allowing the system to grow with their clients’ security needs.
To answer to the changing fraud landscape, at the heart of CyberLoQ’s architecture is a proprietary Transaction Risk Assessment engine that leverages leading-edge Multi-Factor Authentication and Authorization (MFA) protocols to prevent fraudulent access to online systems and the digital assets and sensitive information that they house.
Their solution protects access to sensitive Personal Identifiable Information (PII) and to any digital assets including, but not limited to Bank Card and Digital Payment Programs (any bank issued credit, debit, prepaid cards), Websites, Business Applications or software that requires user input of predefined credentials, IoT Platforms, Equipment or Process Activations including Smart Devices, Key Card Entry Systems, and access to Structured Data / Unstructured Data.
“We welcome the dynamic opportunity to work with Pannovate in a forward-thinking manner to not only drive seamless and secure efficiencies but also to collaborate on new industries and technologies, as they are developed,” said Chris Jackson, CEO of CyberloQ. “Further combining our collective strengths is key to our vision of exploring new technologies and partnerships in new and exciting industries that need CyberloQ.”
Commenting on the collaboration, Pavle Ljujic, Founder at Pannovate adds, “Cybercriminals have been shifting their focus to consumers’ personal and financial data and where unfortunately many others have fallen prey to online fraudsters who access their passwords, OTPs and bank details; this collaboration comes at the most pertinent time where cyberattacks are considered one of the biggest threats globally, but even more so for the banking sector, where fraud can no longer be viewed just as a single isolated incident or a compliance issue.”
CyberloQ is a cybersecurity solution that enables clients to implement highly robust Multi-Factor Authentication (MFA) that includes client-defined location-based geofencing constraints. Our state-of-the-art solution protects access to our client’s sensitive Personal Identifiable Information (PII) and to any digital assets, including, but not limited to: Bank Cards, Digital Wallets, Web Portals, IOT, Structured Data, Equipment or Process Activations.
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Pannovate is a Banking-as-a-Service and orchestration layer that enables banks, fintech and businesses to power growth and deliver seamless digital and embedded finance experiences to transform lives. Working globally with innovators, digital banks and cutting-edge startups.
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