The wealth advisory platform demonstrates its non-negotiable commitment to a robust security posture through partnering with a secure customer engagement platform
In a turbulent world of AI-powered cyber risks that are growing more sophisticated by the day, how does a digital wealth advisory platform enhance security on their platform and build client trust?
On 10 March 2025, a digital wealth advisory platform, Endowus, announced reassuring measures demonstrating how it is keeping pace with technological developments to protect its customer base and comply with regulatory standards.
By partnering with a customer engagement platform, the firm will be providing numerous fraud protection measures:
- First, an advanced verification solution will mitigate the increasing risks associated with bot sign-ups and fraudulent activities. It will adds layers of protection by enforcing SMS one-time-password (OTP) verifications during critical user actions such as logging-in or making withdrawals. For customers logging-in from abroad, OTPs can now be received securely via WhatsApp. This has been particularly useful in instances where clients are travelling internationally and unable to receive local SMSes.
- Second, the system can now identify patterns matching fraudulent SMS schemes, then proactively block or flag these schemes and prevent them from ever reaching the client. For example, the tool can proactively monitor patterns such as the percentage of delivered OTPs that are subsequently successfully verified. A drop in verification rates could signal issues such as compromised credentials: this will be detected early and will trigger interventions quickly.
- On the horizon is a feature that sends a push authentication to a smartphone or tablet, enabling users to confirm their identity securely with a tap of the touch screen.
Said the firm’s Chief Technology Officer, Deepak Sarda: “We are constantly reviewing the security and privacy concerns facing our clients today, and it’s essential that we do all we can to mitigate these risks for them… to significantly strengthen Endowus’ security safeguards, ensuring our clients can engage with our platform worry-free.”
Security without added friction
Since implementing the new features, the platform has consistently achieved a 98% verify conversion rate via WhatsApp, and a 96% verify conversion rate overall — indicating minimal friction in the verification process. Moreover, Endowus has seen less than 1% false positives so far.
According to Robert Woolfrey, Vice President of Communications (APJ), Twilio, the partner providing the new features: “With the right tools in place, there’s no longer a need to compromise security for quality: (businesses) can engage customers immersively, meaningfully, and securely all at once. We’re proud to have partnered with Endowus to achieve this.”
