From
Ideem— device-bound passkeys and A2A payment authentication for banks, fintechs, and payment platforms.
The security-versus-convenience tradeoff has long been accepted as a fact of life in digital finance. Better security meant more friction. Easier experiences meant more risk. Mula-X just proved that doesn't have to be true.
We're proud to announce that Mula-X, a fintech platform delivering accessible and secure financial services across Southeast Asia, is rolling out Passkeys+ across its digital wallet platform in Thailand, replacing SMS-based OTPs with biometric, device-bound authentication.
Passkeys+ is Ideem's enterprise-grade evolution of the FIDO standard. Where standard passkey deployments stop at the protocol layer, Passkeys+ adds the device-bound assurance and platform visibility that regulated financial services actually require.
For Mula-X users, the experience is simple: authentication happens natively inside the app, bound to the physical device and the user's biometric. No OTP to wait for. No redirect. No code to intercept. For Mula-X's security and operations teams, it means cryptographic, phishing-resistant authentication with full visibility and control that SMS-based verification simply cannot provide.
"By adopting Passkeys+ technology alongside our existing SMS-based verification, it allows Mula-X to deliver a faster, more seamless login experience while strengthening security for our users," said Lyn Kok, Founder and CEO of Mula-X. "Security and convenience usually don't go together, but with the advent of AI deep faking, improved phishing attacks and more demanding customers they are both paramount in digital finance."
Beyond user experience, there is a clear business case. SMS OTP delivery carries recurring, usage-based costs tied to global provider relationships. Passkeys+ replaces that variable infrastructure overhead with a scalable, fixed-cost security layer, and removes the attack surface that comes with it.
"The Thai market is sophisticated and fast-moving, and Mula-X's users deserve authentication at the forefront of the industry," said Greg Storm, President of Ideem. "Users will always take the path of least resistance, and by making their security easy and convenient, Mula-X has given their customers an easy, automatic and invisible path to better security."
Digital finance is accelerating across Southeast Asia, and with that growth comes rising fraud sophistication. AI-powered deepfakes, more targeted phishing campaigns, and higher user expectations are converging at exactly the moment when the industry needs a better authentication foundation.
Mula-X's deployment sets a clear benchmark: phishing-resistant, cryptographic authentication is not a future-state aspiration for fintech platforms. It is available now, and it improves both security and user experience simultaneously.
This is what the next generation of digital wallet security looks like.
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