HSBC will issue to Internet bank account users a security token device in the form of a key fob for Internet banking transaction. In future, users will need to key in username, password and the one-time-password genearted from the security key fob for any transaction. This is in response to the Hong Kong Monetary Authority's call for two-factor authentication for Internet banking in Hong Kong.
Still two more methods for two-factor authentication, One is the digital ceritifcate approach and the other is SMS-based one-time-password. For the former, the users have to renew their digital ceriticates with hongkongpost on an annual basis. As for the latter, time will be wasted in waiting for the bank to send the SMS-based one-time-password.
I think HSBC makes the best choice in adopting the security token method which brings the least inconvenience to end users.
No comments:
Post a Comment