SuMiTB enhances its mobile banking security with OneSpan's solutions.

SuMiTB enhances its mobile banking security with OneSpan’s solutions.

2025-11-20

Sumitomo Mitsui Trust Bank (SuMiTB), a Japanese trust bank, has chosen SCSK Corporation and OneSpan to enhance the security of its mobile banking services in light of increasing phishing and account takeover threats.

Introducing Cloud-Based FIDO Authentication

The initiative builds on OneSpan’s experience supporting on-premises FIDO authentication deployments across Japan, marking the introduction of the country’s first cloud-based FIDO authentication solution for mobile banking. This collaboration signifies a strategic shift towards modern and scalable authentication technologies that can meet future regulatory and operational needs.

Japan is experiencing a significant increase in digital banking fraud, with projected account takeover losses estimated at approximately USD 4.42 billion by 2025. In response to this trend, the Financial Services Agency (FSA) has proposed amendments to supervisory guidelines, mandating phishing-resistant authentication across the financial sector. This regulatory push is driving the adoption of FIDO authentication, which provides strong protection against credential theft and unauthorized access.

Expanding FIDO Authentication Beyond Login Verification

SuMiTB plans to extend FIDO authentication beyond traditional login scenarios by integrating it directly into mobile banking transactions. By embedding phishing-resistant authentication within each high-value action, the bank aims to create a robust protection framework that mitigates evolving threats such as social engineering and targeted phishing campaigns.

OneSpan’s cloud-based platform, OneSpan Cloud Authentication (OCA), supports multi-factor authentication methods, including FIDO protocols, passkeys, Digipass, and Cronto visual signing. This solution is designed for high scalability and rapid implementation, making it suitable for diverse operational and regulatory requirements. Through this collaboration with SCSK Corporation, OneSpan aims to deliver an integrated security stack that can support the modernization of Japanese financial institutions’ digital ecosystems.