EastWest Bank’s “Banking Made Safer” program gives customers more control over funds while adding safeguards against account compromise and disputed transactions
As financial scams become harder to detect and digital banking continues to put more transactions within reach of customers’ phones, EastWest is giving account holders more ways to put the brakes on suspicious activity and protect money they do not need for everyday spending.
The bank has launched Banking Made Safer, a suite of security and fraud-prevention measures that includes EasyLock, a self-service feature that allows customers to set aside part of their account balance and prevent those funds from being used for digital transactions.
Available through the EasyWay app for individual customers and EasyBiz for corporate accounts, EasyLock lets users choose how much of their balance they want to protect. The locked amount can be adjusted or unlocked when needed, while the remaining balance stays available for regular digital banking.
The approach is relatively simple: instead of relying entirely on the bank to stop an unauthorized transaction after it happens, customers can proactively put funds they do not regularly use behind an additional layer of protection.
More controls when something goes wrong
IMAGE CREDIT: EastWest
EasyLock is only one part of EastWest’s broader security push.
The bank has also introduced Emergency Shield, which allows customers to suspend digital account access and outgoing transactions if they believe their account has been compromised.
Another measure, Transaction Pause Period, temporarily restricts digital transactions after certain key account information is changed. The additional pause is intended to give the bank and customer more time to detect potentially unauthorized activity.
EastWest has also added Temporary Holding of Funds, under which money associated with a disputed transaction can be temporarily held while verification is conducted.
Together, the measures are designed to address different points in the fraud cycle — from protecting money before an incident occurs to limiting account activity when a customer suspects a compromise.
“Financial scams continue to become more sophisticated, and for many customers, the concern is not only convenience but the safety of their hard-earned savings,” EastWest CEO Jerry Ngo said.
“Through Banking Made Safer, we are giving customers practical tools such as EasyLock that help them take a more active role in protecting their funds,” he added.
Why the added protection matters
IMAGE CREDIT: Freepik
The move comes as banks and regulators face growing pressure to strengthen safeguards around digital financial accounts.
Under Republic Act No. 12010, or the Anti-Financial Account Scamming Act (AFASA), financial institutions have additional obligations to prevent and respond to scams involving financial accounts. The Bangko Sentral ng Pilipinas has likewise been tightening rules and expectations around customer protection, fraud management and digital banking security.
For customers, however, stronger security can sometimes come at the expense of convenience. Additional authentication, transaction limits and temporary restrictions can make legitimate banking more cumbersome, particularly when a customer needs immediate access to funds.
EastWest’s approach is to give customers more control over when and how those restrictions apply.
For example, a customer who keeps a portion of their money for savings rather than day-to-day spending can lock that amount while leaving the rest of the account available for bills, transfers and other transactions.
The protection is not a substitute for vigilance
IMAGE CREDIT: EastWest
There is also a limit to what any security feature can accomplish.
EasyLock can reduce the amount of money exposed to digital transactions, but it does not eliminate the risks associated with phishing, social engineering, stolen credentials or other forms of fraud. Customers still need to protect their passwords, authentication credentials and personal information and remain alert to suspicious messages and transactions.
The effectiveness of the safeguards will also depend on how quickly customers use them when something appears wrong. A security feature that is available but not activated provides little protection at the moment an account is targeted.
For corporate customers, EasyBiz also subjects the use of EasyLock to the company’s approval workflow, adding an organizational layer to the process.
What’s next for digital banking security
The rollout points to a broader shift in how banks are approaching fraud prevention: security is increasingly being built into the banking experience rather than treated solely as a back-office function.
EastWest said it will continue focusing on security measures that are accessible to customers while keeping digital banking convenient.
For customers, the immediate takeaway is more control over their accounts. Those who maintain funds that they do not need for regular digital transactions can use EasyLock to place those funds behind an additional safeguard, while Emergency Shield and the other measures provide additional tools when an account or transaction comes under suspicion.
As digital scams continue to evolve, banks may increasingly have to strike the same balance — making it harder for criminals to move money without making legitimate banking harder for customers.
EastWest customers can learn more about Banking Made Safer and EasyLock through the bank’s website.
