FNB brings secured authentication to its app

FNB customers can now verify themselves via the bank’s App using Smart inContact secured authentication, the bank announced yesterday. FNB is stepping up efforts to improve safety and convenience for its customers by moving away from the traditional methods of authenticating themselves when they use the bank’s suites and contact centres for transactions and other services on their accounts.

CEO of FNB Retail, Raj Makanjee says, “The bank is leading the industry to ensure that customers can access financial services in a safe and convenient manner. Current stats show that on average, the Smart inContact secured authentication rate within the FNB contact centres (which receive roughly 1.1 million calls a month) is already at 70% adoption, including the Entry level banking segment which typically has a lower rate of app adoption. The 70% smart secure authentication rate climbs to 84% within the Mass Affluent Premier banking segment, which is already largely digitised. The remaining 30% is spread between cellphone banking smart inContact authentication and customers who use the card and pin authentication.”

If you have an FNB account this means that:

  • Any online transactions now have to be authorised within the FNB App, rather than via the traditional one-time-pin (OTP) sent to your cell phone or email address.
  • You are directed to approve the transaction on your FNB App behind your log-in details to complete the task.
  • This same Smart inContact secured authentication process now applies when you contact the FNB customer service/banker suites and contact centres.
  • It will be the bank’s primary means of authentication, marking a shift away from traditional methods like verifying personal information including your date of debit orders, cell phone number, ID number and physical address. 

CEO of Mass Affluent banking at FNB, Kamal Kalian says, “Going forward, we envisage the FNB App being the primary authentication method for customers who contact our service suites and contact centres. We believe that using a trusted digital platform for streamlined authentication fundamentally improves security and customer experience. Fraudsters are constantly evolving their modus operandi and we want to stay ahead by evolving our processes to improve the safety of our customers’ money and information,” Kalian says.

But what about those who aren’t as tech savvy you might ask? Well, FNB has taken care to ensure that customers without ready access to the FNB App have alternative methods to authenticate themselves in need. Essentially, customers who have access to smart devices but are not tech-savvy will be guided by the bank’s service consultants through the process. In addition, The Bank has a wide-spread branch network where customers can speak to a consultant face to face with all Covid-19 safety protocols observed.