Protecting your data and transactions is our priority
Memo Bank's brand new, highly secure and successfully audited core banking platform ensures the protection of your data and the security of your banking transactions.
Pay your suppliers with complete peace of mind using Memo Bank Protect
Fighting fraud is our top priority. We offer a range of solutions designed to detect and neutralize fraud risks before financial losses occur.
Memo Bank Protect neutralizes the risk of transfer fraud by validating your suppliers' identities and the reliability of their IBANs. This verification occurs as soon as a beneficiary is added, before any payment is made to them. Beneficiaries are added in perfect synergy with your approval workflows (four-eyes principle). Memo Bank Protect is also available via API.
Identify and validate sensitive transactions
There are no trade-offs when dealing with security. For sensitive transactions requiring your approval, such as adding a beneficiary, you’ll receive instant notifications on your mobile phone for authentication.
To prevent errors or fraud on outgoing payments, configure your approval chains: set amount thresholds, assign approvers, and define approval schemes.
Protect your primary IBAN
Virtual IBANs mask your primary IBAN, protecting it from malicious misuse. Create as many as you need, then deactivate or delete them with a single click.
Secure your card payments
Our recurring virtual cards isolate risk: if a merchant site is compromised, you can delete the compromised card in one click without ever affecting your main account. Single-use virtual cards self-destruct after one transaction, making fraudulent reuse impossible. Lock or unlock your cards with a single click, whether they are physical or virtual.
Eliminate the risk of unauthorized direct debits
Eliminate the risk of unauthorized charges across all your current accounts by blocking direct debits on your main or virtual IBANs.
To take things further, we have introduced a feature enabling you to block any outgoing transactions from your accounts.
24/7 real-time visibility on your transactions
Through 24/7 real-time visibility over all your transactions, you can detect, block or correct any financial activity that you do not recognise or that is incorrect.
With our banking API, receive a notification (webhook) on your systems every time an event occurs on your account: outgoing transaction, creation of a new beneficiary, etc.
Two-step authentication
Your Memo Bank password acts as the first line of defense against fraudsters. We help our clients create very strong passwords. To further bolster security, you’ll receive mobile notifications for any new connections or sensitive operations on your account.
Unlike other banks that provide clients with PINsentry card readers for account access, we’ve embraced modernity. Our clients can conveniently access their accounts using our iOS and Android compatible banking application.
Data hosted in Europe
Your data is hosted in Europe, in Google Cloud Platform and Amazon Web Services data centers and in compliance with GDPR. We have built our core banking platform to ensure that your personal data remains confidential and is not shared with third parties.
Encryption in transit and at rest
Encryption protects data from unauthorized use and can be implemented on data in transit or at rest. Memo Bank uses Transport Layer Security, or TLS, a widely adopted security protocol designed to facilitate privacy and data security for communications over the Internet. Data that sits on our severs is then protected by many layers of security.
