SMS OTP can contribute more protection for any of your online banking activities. We may send you an SMS to verify a range of online banking activities, such as Pay Anyone payments and creating a PayID.
Both personal and business customers will have this additional layer of security added to their accounts.
A one-time passcode is a single-use passcode for only one of your online banking activities. We will send you an SMS OTP to your mobile phone number we have on our records, to confirm certain online banking activities
How does it protect the banking sector?
This is an example of two-factor authentication which can provide an additional layer of security when using SMS OTP digital services for online banking.
1st factor - Something you know
Your customer registration number (CRN) and passcode are the first-factor or first layer of authentication used to prove our identity.
2nd factor – Something you have
The second factor is an additional authentication layer. A one-time password sent to your mobile phone provides this additional layer and may be requested to verify a range of online banking activities.
Registering for SMS OTP
You don’t need to register for SMS OTP. You will automatically be issued with SMS OTPs, as long as we have your correct mobile phone number on our records. You can check and update your mobile number in the profile section you have of Internet Banking.
With your mobile phone, you can demand and receive bank-related information via SMS messages.
- You can ask to be sent an automatic message notifying you about your current balance each banking day.
- You can request to be sent an automatic message informing you about an online transaction related to your account performed with a bank card.
- You can ask to be sent an automatic message informing you about the crediting and debiting of your current account.
- You can question about your account balance or about transfers that have been affected to or from your account at any point during the last 30 days.
- You can inquire about the current purchase and ATM limit on your card or even change it.
- You can ask for banking FX and cash rates, Investment funds units or stock-exchange information to be sent to your mobile phone at any time.
The benefits of SMS OTP for online banking are tremendous, that is why the banking sector is better of including this service in their business strategy.
To sum up, when you use Internet Banking and then conduct transactions such as money transfers, verification codes will usually be sent to your mobile number. The code is a secret code that is only valid for one-time use and with a certain time limit. Without the Bank’s SMS OTP code, our internet banking transactions cannot be processed. Broadnet Technologies aims to help you conducting and enhancing your online banking service through its well-developed SMS OPT service.
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About Us:
Broadnet is an international leading Business Messaging Solution Provider since 2003. Broadnet joined the GSMA as an Associate Member also has been awarded the ISO 27001:2013and ISO 9001certifications. Broadnet has been a pioneer in the use of SMS-messaging service where it has Direct Connections to more than 680 operators and carriers. Widening its range of products and services to include Bulk SMS, A2P SMS, HLR Lookup, SMSC Gateway & SMS Firewall. Broadnet spread presence from Beirut, Lebanon (Headquarter) along with our branches in London (UK), Dubai (UAE), Pune (India), Milan (Italy), Valetta (Malta), KSA (Riyadh), and Egypt (Cairo) where we take care of our international customers.
Contact Us:
Skype: broadnet-sms
Support: +961 76 888 153
Email Support: noc@broadnet.me
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