SMS One-Time Password References

Description

This solution is primarily used for e-banking anti-fraud control. It means that the bank can define which transactions and activities (for example login) initiated on the e-banking channel have to be authenticated by SMS one-time password.
This password is generated and sent to the customer’s mobile phone when the customer define s and wishes to send the transaction to the banking back-end system. Each transaction must be authenticated by typing in this one-time password. The bank can assign time validity to the one-time password, which is sent with high priority.

Advantages

• The solution doesn’t require a special device; only a simple mobile phone,
• One-time password provides a higher security level, than the static password,
• Time validity can be defined to the one-time password,
• Its use requires no special technical ability.

SMS one-time password for transaction signing

Main features

• Login authentication,
• Transaction authentication (transfers, term deposits, standing orders, etc.).