Published by Jessica Weisman-Pitts
Posted on October 14, 2021
4 min readLast updated: January 29, 2026
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Equicom Savings Bank partners with FSS to implement Secure3D, enhancing online fraud detection and boosting e-commerce security in the Philippines.
Chennai (India) and Makati (Philippines) 13th October 2021: FSS (Financial Software and Systems), a leading global provider of integrated payment products and a payments processor has partnered with Equicom Savings Bank (EqB) – one of the leading banks in the Philippines to address online fraud and to boost e-commerce growth.
Under this partnership, FSS will provide its Secure3D, an intelligent payment authentication solution, to create a safer and seamless way for consumers to transact in the digital economy. The Philippines is one of the fastest-growing e-commerce markets in Southeast Asia, with transactions projected to grow from US$ 4 Billion in 2020 to US$ 15 Billion in 2025.
With increasing adoption, fraud attack vectors have grown in sophistication, and costs are on the rise, amounting to 2.03% of overall annual revenues. FSS Secure3D, modelled on EMVCo 3.2 guidelines, will help Equicom verify customer identity and flag fraudulent transactions before a payment transaction is authorized.
Speaking on the collaboration EqB Vice President and Head for Consumer & Small Business Lending Division Roussel E. Larger, noted; “Fraud is an ever-evolving problem, so we need to ensure that our prevention technology is evolving even better to maximize protection. Our partnership with FSS enables us to leverage its experience and technology to mitigate fraud threats and create low-friction trusted experiences that customers expect, providing both protection and opportunities to increase sales and revenue.”
For his part, FSS PayTech COO Krishnan Srinivasan said; “The payments market is fiercely competitive, so it is of paramount importance for financial institutions to layer intelligent counter-fraud measures to lower fraud costs. Our globally proven Secure3D delivers a solid technology foundation to keep ahead of fraud and aligns with core operational and risk strategies, enabling Equicom balance fraud detection without compromising the customer experience.”
Modelled on EMVCo 3DS 3.2 guidelines, FSS Secure3D exploits rich data streams exchanged between merchants and issuers to continually learn customers’ transactional DNA and assess risk based on a combination of location, merchant, transaction, and device-related attributes.
This technology helps systemically isolate higher-risk transactions while reducing the need to interrupt the consumer’s purchase. As for higher-risk transactions, FSS Secure3D dynamically provides additional verification checks such as biometric-based identification or a one-time passcode. FSS offers Authentication As-a-Service on FSSNeT, where FSS assumes responsibility for implementation, integration, certification, testing, and technical operations. This practice alleviates costs as well as the regulatory compliance burden. Benchmarked to process 8,000 transactions per second, FSS Secure3D assures faster processing time and higher sales conversion. FSS Secure3D is certified by EMVCo and key card schemes like Visa, MasterCard, and Amex.
Financial Software and Systems (FSS) is a leader in payments technology and transaction processing. The company offers an integrated portfolio of software products, hosted payment services, and software solutions built over 30+ years of experience. FSS, end-to-end payments products suite, powers retail delivery channels including ATM, POS, Internet, and Mobile and critical back-end functions including cards management, reconciliation, settlement, merchant management, and device monitoring. Headquartered in Chennai, India, FSS services leading global banks, financial institutions, processors, central regulators, and governments across North America, UK, Europe, ME, Africa, and APAC and has 2,500 experts on board. For more information, visit www.fsstech.com.
Equicom Savings Bank (EqB) is a medium-sized savings bank established on September 29, 2008. It is a member of the Equicom Group and was among the country’s top 20 thrift banks (in a group of 51 small, medium, and large thrift banks) in terms of total assets, total deposits, total loan portfolio volume, and return on equity. Moreover, its cardholders have access to over 20,000 BancNet ATMs nationwide and around one (1) million Visa Plus ATMs worldwide. The Bank’s corporate vision is to be the preferred savings bank of small and medium-sized enterprises (SMEs) and consumers. EQB is the first bank to receive the Pagtugon Award bestowed by the Bangko Sentral ng Pilipinas (BSP) in 2012.
The article discusses Equicom Savings Bank's partnership with FSS to implement Secure3D for online fraud detection.
FSS Secure3D uses EMVCo 3.2 guidelines to verify customer identity and flag fraudulent transactions before authorization.
With the growth of e-commerce, fraud attack vectors have become more sophisticated, necessitating advanced detection solutions.
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