Globe Business enables resilient fraud defenses for financial institutions amid AFASA

As digital banking, e-wallets, and embedded finance continue to reshape how Filipinos access financial services, financial institutions are under increased pressure to create seamless digital experiences while protecting customers from more sophisticated cyber assaults. This transition is further supported by the enactment of Republic Act No. 12010, or the Anti-Financial Account Scamming Act (AFASA), which mandates Bangko Sentral ng Pilipinas (BSP)-Supervised Financial Institutions (BSFIs) to enhance fraud detection, account verification, and security controls.

Achieving AFASA compliance requires a shift from reactive security to proactive, operational resilience. Globe Business enables financial institutions to make this pivot toward active, automated defense by integrating advanced API intelligence, cybersecurity frameworks, and frictionless authentication. This ensures that everyone from commercial giants to local cooperatives can block sophisticated fraud without disrupting the customer experience.

“The financial services industry continues to evolve rapidly, and institutions are expected to innovate while protecting customers from increasingly complex cyber threats,” said Glenn Estrella, Globe Business Vice President. “Organizations need solutions that strengthen security without creating unnecessary friction. Globe Business is committed to helping our partners simplify compliance, protect their customers, and continue innovating with confidence.”

As financial services become more deeply integrated into digital platforms and everyday applications, the industry’s attack surface continues to expand. To address these risks, Globe Business offers G Verify, its Silent Network Authentication (SNA) service, which leverages mobile network intelligence to authenticate legitimate users without relying on one-time passwords. By enabling authentication in the background, G Verify helps reduce the risk of SIM swap attacks, account takeovers, social engineering, and other forms of digital fraud while delivering a smoother customer experience.

Long before AFASA raised the bar for proactive security, Globe Business had already recognized the need for stronger, frictionless authentication. During the Asian Banking & Finance Forum in 2025, the company introduced SNA, demonstrating how mobile network intelligence could strengthen identity verification while minimizing customer friction. Today, G Verify builds on that vision by helping financial institutions enhance threat mitigation as they adapt to evolving regulatory requirements.

These capabilities formed part of Globe Business’ broader cybersecurity portfolio showcased at the recent BFSI Philippines Summit 2026. During the event, Globe Business presented key insights to delegates and held exclusive consultations with C-level executives on how banks, fintechs, and insurers can strengthen cyber resilience, navigate AFASA, and develop technology roadmaps that balance security, compliance, and customer experience.

“Building trust in every digital transaction requires security that works quietly in the background without disrupting the customer experience,” continued Estrella. “By combining cybersecurity expertise, intelligent APIs, and trusted network capabilities, Globe Business helps financial institutions strengthen fraud prevention while supporting the next generation of secure digital services.”

As the Philippine financial sector continues to evolve, Globe Business remains committed to helping institutions build secure, resilient, and future-ready digital ecosystems. Through intelligent connectivity, cybersecurity, and trusted digital services, it empowers financial institutions to strengthen digital trust, enable secure innovation, and deliver better experiences for every Filipino.