Antelop lets banks, customers manage tokenized cards from banking app
Antelop Solutions has launched Antelop Token Manager, a tokenized card management solution for banks to provide customers with the ability to view, control, push, update and manage card details that has been shared with different mobile wallet providers and e-commerce merchants from within the bank's own mobile banking app. This is done through one API integration, according to a report in NFCW.
Antelop Token Manager addresses card management by providing a way for customers to self-manage their tokens, reducing the strain on the bank's customer service department and adding value to a bank's mobile app. Customers can also resume or delete a token or update tokens automatically if their mobile phone is replaced, lost or stolen. The solution is also certified for Apple Pay and can be deployed within a few weeks.
"Today, one card can already be provisioned in a tokenized format to multiple mobile wallets and wearable devices, increasing the complexity of card management," Timothée Gruner, Chief Credit Officer for Antelop said in the report.
"The next big challenge is the move from proprietary techniques to Visa/Mastercard scheme tokenization for e-commerce merchants. Major merchants such as Amazon and Netflix have already made the transition and all merchants will soon have to do so," Gruner said. "Once this happens, each card will have an array of scheme tokens associated with it that will become extremely complex to manage."