Westpac joins CBA with SMS security expansion

By on

Westpac has quietly expanded its use of SMS to authenticate its personal banking customers.

Westpac has quietly expanded its use of SMS to authenticate its personal banking customers.

A spokesperson for the bank today confirmed to iTnews that the initiative went live on March 7.

The service sends personal internet banking customers a six-digit code via SMS, which needs to be entered on the website to enable a transaction or change to proceed.

Previously, two-factor authentication was available only to Westpac business customers, mainly in the form of a token.

"This rollout to personal customers is part of our ongoing commitment to providing customers with additional security protection and was always part of our overall security consideration," a Westpac spokesperson told iTnews.

"We have already advised certain customers - in particular those who have previously been victims of fraud and customers who request to change their internet banking daily transaction limit - about the service and how to register".

Apart from increased security, Westpac is touting benefits including an increased daily limit up to $10,000 with the ability to set it online, and alerts to unauthorised activity.

Westpac joins CBA which this week also announced a major expansion of its own SMS authentication system for personal internet banking customers.

Tags:

Most Read Articles

Log In

Username:
Password:
|  Forgot your password?