Inecobank: Setting a New Standard for Digital Banking and UX in Armenia

Building on this strong track record of digital innovation, the bank sought to further advance its digital banking experience with a modern authentication platform capable of securely supporting more than 400,000 mobile and online banking users across all digital channels.

CHALLENGE: Replacing Legacy OTP with a Modern Authentication Customer Experience

The bank was building a new application and recognized that its existing authentication methods, based on one-time passwords (OTPs), no longer met growing customer expectations for convenient, mobile-first digital banking experiences. Legacy authentication introduced unnecessary friction into customer journeys, increased operational complexity, and lacked the flexibility needed to support future digital identity initiatives.

At the same time, the bank sought a comprehensive security that would strengthen fraud prevention, protect customers against evolving mobile threats, and establish a resilient foundation for the continued evolution of its digital banking services.

Following a competitive vendor evaluation, Wultra was selected as the preferred technology partner to deliver a modern unified authentication platform designed to flexibly adapt to customer needs.

SOLUTION: Mobile-First Authentication with Next Generation Security

Wultra demonstrated its Mobile-First Authentication platform through a live banking use case, showcasing how multi-factor customer authentication can be delivered through a streamlined, passwordless experience centered on biometric verification.

The implemented solution included:

• Next generation authentication – multi-factor authentication, combined with Wultra's intuitive activation flow, delivers a smooth and secure user experience.
• Advanced mobile app security – Integrated Mobile In-App Protection strengthened the application’s security against phishing and evolving cyber attacks through multilayered protection combining Runtime Protection, App Shielding, and Security Telemetry. This enhanced Inecobank’s ability to detect potential threats, protect the application, as well as gain greater visibility and actionable security intelligence.
• Commercial Support 24/7 - expert assistance whenever needed, helping quickly resolve issues, minimize disruption, and keep the business running smoothly.

IMPACT: Improved UX with an Authentication Platform Ready for Tomorrow’s Threats

The new authentication platform delivered a modern, mobile-first experience with intuitive biometric authentication, advanced mobile security, and simplified operations. Beyond achieving these core objectives, the project strengthened the bank's readiness for future regulatory requirements and improved operational efficiency.

Key business and customer benefits included:

• Better user experience across all channels – the transition from manual SMS OTP transcription to multi-factor customer authentication using biometrics significantly reduced customer effort and improved UX, resulting in a more seamless and frictionless authentication experience.
• Strengthened user security – multilayered protection combining Runtime Protection, App Shielding, and Security Telemetry helps Inecobank safeguard sensitive clients’ data, including high-value transactions, while keeping operational overhead low.
• Strong foundation for long-term growth – the flexible architecture enables continuous improvement of digital channels as customer and security needs evolve, without rebuilding the core authentication infrastructure, making future upgrades easier and more efficient.
• Smooth integration – close collaboration, hands-on support, and deep technical expertise from Wultra enabled an efficient rollout with minimal implementation complexity.