In a bid to build trust amongst internet banking users, banks are pouring huge amounts of time and money into developing fool proof ways of transacting online. To this end First National Bank and RMB Private Bank, both divisions of FirstRand Bank Limited, have launched a new internet banking security service called Digital Security enabled through the use of a DigiTag.

The DigiTag is a small, portable handheld device that generates a unique eight-digit security code to be used in addition to the User ID and Password, to authorise login to FNB or RMB Private Bank Internet Banking. "FNB and RMB Private Bank are the first banks in South Africa to introduce this technology for internet banking. Now internet bankers who choose to use the DigiTag as an additional security measure can enjoy even greater peace of mind when doing their internet banking," says Roland le Sueur, head of FNB Internet Banking.

Unique code
"With DigiTag, the risk of security logging software being used to record key strokes is completely eliminated. Each banking session requires a new code, which is generated independently of the PC. And because it is portable, our customers are able to safely use any PC wherever they are in the world for their internet banking, irrespective of whether the PC has the latest anti-virus or anti-key logging software installed. This additional security feature makes FNB and RMB Private Bank’s Internet Banking service one of the most secure in the world," says Le Sueur.

Worldwide, security tokens such as DigiTag are regarded as one of the most secure means of protecting against unlawful access to internet banking accounts. The DigiTag units are supplied by ActivCard, who have provided security tokens to a number of international banks.

The DigiTag is an optional security measure that FNB and RMB Private Bank online bankers can purchase for a nominal fee. The DigiTag supports the existing security measures that FNB and RMB Private Bank have in place. These include the industry standard login procedure, the free inContact SMS or email messaging service, the educational FNB Online Security Weeks and the Online Banking Guarantee.

According to Angeli Hoekstra, partner Security & Technology Services, PricewaterhouseCoopers, the verification of a user's identity is required to ensure that only trusted entities get access to information in a system. "Adding an additional security verification layer, for example linking something you have (like a token) to something you know (like a user-id and password), increases security and trust in the online world, and can be used to any company's competitive advantage," says Hoekstra.

To order the DigiTag FNB clients can call their Internet Banking Help Desk on 0860 328 257, or purchase it online through their Internet Banking portal at www.eBucks.com. RMB Private Bank clients can phone the RMB Private Bank Customer Service Centre on 0860 67 4446, or purchase it online through www.rmbprivatebank.com.