DBS to roll out new security tokens from end 2011

DBS to roll out new security tokens from end 2011
by Tan Weizhen

01:08 PM Dec 01, 2011

SINGAPORE - DBS Bank customers will start receiving a new Internet banking token from the end of this year. The new token promises to be more secure in light of increasing cyber attacks that target banks internationally.

The new token, said to have what is called 'transaction signing capabilities', will replace the old token by the end of 2012.

It will be sent out to customers in batches throughout next year, and full activation will take place by the fourth quarter of next year.

This new token will have additional buttons for more one-time passwords (OTP), which customers will be prompted to enter at various steps of the transactions. The number of passwords will be deployed according to the risk level of the transactions.

A pilot run on the new token was conducted in October for 750 customers but DBS said it will continue to work out the best flow of the steps customers need to go through through focus groups.

- wong chee tat :)