Commonwealth Bank’s netbank customers get free internet banking security
Bank Commences Final Roll-Out of Two Factor Authentication Program
The Commonwealth Bank is offering more than 2.3m customer’s access to free SMS authentication as the Bank begins the final phase in its two-factor authentication program for internet banking service, NetBank.
NetBank now provides access to NetCode SMS – a free service which allows customers with a mobile phone to receive a one-time code to authorise certain NetBank transactions.
Last month, 30,000 active NetBank customers were sent a token which produces a NetCode unique to the token and automatically changes every 30 seconds. The customer inputs the NetCode into NetBank while logging in.
Customers tell Commonwealth Bank that stronger internet security is important and so it has decided to make NetCode security available to all NetBank customers. All customers can now register for NetCode SMS within NetBank.
NetBank was the one of the Australian online banking service to provide all customers with access to their choice of free two factor authentication.
Commonwealth Bank trials of SMS security have confirmed that it is the ideal option for large customers. And it seems to be simple and convenient. Commonwealth Bank also has the option of a token, which some of its active customers will prefer. Commonwealth Bank approach is to match the security solution to the banking needs of the customer.
NetBank is constantly evolving, and Commonwealth Bank seems to be delighted to provide customers with greater peace of mind with this security upgrade. Commonwealth Bank will continue to develop NetBank’s security features to ensure that its customers are protected from fraudsters.
Customers can register for NetCode SMS in NetBank or find out more by visiting the company website.
27-Apr-2007