FNB changes OTP to SmartOTP in App

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krycor

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Anyone see this? looks like they dropping the SMS as an OTP channel. finally.. it makes sense sending it to an encrypted channel..
 
krycor said:
Anyone see this? looks like they dropping the SMS as an OTP channel. finally.. it makes sense sending it to an encrypted channel..
Click to expand...
Yup. Instead you open the app and either confirm or reject the transaction in real time. Already active on my account, works well.
Also, with in contact coming to the app instead of SMS you can drop the threshold to like 1 cent.
 
Sinbad said:
Yup. Instead you open the app and either confirm or reject the transaction in real time. Already active on my account, works well.
Also, with in contact coming to the app instead of SMS you can drop the threshold to like 1 cent.
Click to expand...

Will have to see how this works to make up my mind if this is better. Only works if you have a data connection (you may have run out), SMS is more reliable re delivery and is free. On the plus side the minimum is now 1c rather than R100.
 
biometrics said:
Will have to see how this works to make up my mind if this is better. Only works if you have a data connection (you may have run out), SMS is more reliable re delivery and is free. On the plus side the minimum is now 1c rather than R100.
Click to expand...
So my data sim is fnb. Even when my prepaid data runs out I can use the fnb app... So I expect it will still work for me.
 
Sinbad said:
So my data sim is fnb. Even when my prepaid data runs out I can use the fnb app... So I expect it will still work for me.
Click to expand...

Cool, I'm porting from VC to FNB soon. Not that I expect to run out of data but it will still be a flaw for some other customers.
 
I liked the option to send the OTP to email if you didn't have the phone with you, I wonder if they will still have that or if for some reason you don't have your phone, what other option is available.
 
FNB should approach ISPs and ask nicely to zero rate the data to transmit the OTPs. The cost to the carriers is negligible, if anything at all.
 
I'm gonna ask the question about the data thing...
 
All good until you lose your phone, then have to use a basic phone that can't run the app for a few days, then what?
 
koeksGHT said:
Same way as the majority of people who don't have app.
Click to expand...

It's 2016 and people need to get with the times. Basic smart phones can be had for as little as feature phones were a couple of years back...
 
My concerns are mostly those mentioned above:
- what if I lose my phone, or leave it at home?
- what if I'm overseas and don't have a data connection on my phone?
- it's a hassle to log in to the app

On the other hand, it is more secure, and how often do I really need an OTP if I'm overseas or temporarily phoneless? So I'm torn :)
 
Mike Hoxbig said:
It's 2016 and people need to get with the times. Basic smart phones can be had for as little as feature phones were a couple of years back...
Click to expand...

After the sim swop fraud happening. All my banking actions from OTP/USSD are received on a none smart phone which I feel safe as there is no snooping/malware apps or any logging of my activities. Still prefer receiving the OTP will refrain from updating the app...
 
There is a number to call presented while the fnb website is waiting for you to confirm, so you could call them to report the lost or broken phone...
 
CathJ said:
My concerns are mostly those mentioned above:
- what if I lose my phone, or leave it at home?
- what if I'm overseas and don't have a data connection on my phone?
- it's a hassle to log in to the app

On the other hand, it is more secure, and how often do I really need an OTP if I'm overseas or temporarily phoneless? So I'm torn :)
Click to expand...

have the same concerns... any FNB people here or anyone willing to query a FNB representative.. maybe Twitter?
 
CathJ said:
My concerns are mostly those mentioned above:
- what if I lose my phone, or leave it at home?
- what if I'm overseas and don't have a data connection on my phone?
- it's a hassle to log in to the app

On the other hand, it is more secure, and how often do I really need an OTP if I'm overseas or temporarily phoneless? So I'm torn :)
Click to expand...

You don't need to log into the app to authorize the transaction. Just open it.
No data = no transact.
If you left your phone at home you wouldn't be receiving the otp SMS anyway. But I guess you could request email.
 
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They should make all ATM actions require an OTP confirm.. immediately killing of clones heck even if it's where u tell app u want to use an ATM then have a 5 min window to do so..
 
krycor said:
They should make all ATM actions require an OTP confirm.. immediately killing of clones heck even if it's where u tell app u want to use an ATM then have a 5 min window to do so..
Click to expand...
That's a good idea, actually it would be awesome to have an option to enable that for all purchases/transactions, literally they can steal your card and pin and still not access your funds.
 
so have they deactivated the USSD options one gets?

as app is great, but what if my phone breaks or gets stolen......

haven't thought it through I must admit....
 
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