FNB is dropping email and SMS

[Johand]

But but.... push OTP has been done for years. It's never been a problem. Nobody's life savings have ever been stolen because their phone was stolen.

Uh - in what universe do you live? It happens so frequently it doesn't reach the headlines anymore.

 

[2023]

The app is considered 2fa already. There's a physical device and a password or biometric.

What happens if I install the app and login as you on my phone? Are you notified of the new device login?

 

[Ancalagon]

but but but, its got a cool looking black card, and you get vouchers to use at the airport.

Okay, I found my private banker and emailed her. Let's see whether I get any useful response.

My interactions with FNB customer support, even private bankers, generally goes like this:

"Hi I have a query regarding my homeloan. I want to know XYZ."
"Thank you for your enquiry sir. Please phone this number and they will tell you the answer."

So, they do nothing for you. They aren't a concierge that will solve your problems and save you time.

 

[Sinbad]

What happens if I install the app and login as you on my phone? Are you notified of the new device login?

Yes. And the phone will not be accepted as authorised for at least a week unless the existing phone validates it.
You need to perform a transaction from the new phone over the value of R300, and a week after that transaction with no disputes the device is considered verified

 

[NeonNinja]

What happens if I install the app and login as you on my phone? Are you notified of the new device login?

If I remember you're only allowed 1 instance of login (email/account on the app), so original app should be notified?

 

[2023]

Yes. And the phone will not be accepted as authorised for at least a week unless the existing phone validates it.
You need to perform a transaction from the new phone over the value of R300, and a week after that transaction with no disputes the device is considered validated.

Fair enough if this is how it works

 

[Jet-Fighter7700]

So, they do nothing for you. They aren't a concierge that will solve your problems and save you time.

but but but, you pay triple of a standard user on Gold or Fusion, and get exactly the same service.
guess thats FNB for you, pay more for less, Shrinkflation at its finest.

 

[Sinbad]

Fair enough if this is how it works

It's a ****ing ballache if you lose your phone

 

[Ancalagon]

but but but, you pay triple of a standard user on Gold or Fusion, and get exactly the same service.
guess thats FNB for you, pay more for less, Shrinkflation at its finest.

As soon as I have sold my flat, I'll wind everything down and close all of my accounts with FNB.

 

[itareanlnotani]

As soon as I have sold my flat, I'll wind everything down and close all of my accounts with FNB.

same.

 

[Johand]

I am surprised how much people on the forum trust e-mail and SMS. These systems where never designed with the security in mind that is required. Hell -- faking the from address on an e-mail doesn't even require a lot of technical skills just an open SMTP server.

Globally there has been a move away from SMS/e-mail for verification, and not just for banks.

So maybe your gmail address is well protected because Google implemented all kinds of additional security on it. Your local myusername@randomisp.co.za DOES NOT have the same security. Hell - SMTP is not encrypted by default so a lot of people are vulnerable from network sniffing. And even when it is encrypted there is no globally rolled out trust network.

SMS -- I can't believe nobody acknowledge the variety SIM swop scams we had over the years where bank accounts have been emptied.

And with both of those mechanisms - even people who think they are competent can fall for a well executed phishing attack. ( do this quiz without peeking -

https://twitter.com/i/web/status/1318888002123403267

, read https://www.troyhunt.com/humans-are-bad-at-urls-and-fonts-dont-matter/) . Most "experts" here don't even know what a homoglyph is (because they are so used to ASCII, and I don't think I have ever met a unicode expert in my life).

Using the App enables FNB to have a single communication channel which they can reinforce the right behaviors on their customers. Got and e-mail or SMS -- just ignore, always look at the app.

Also the app allows for other telemetry data to prevent fraud. E.g. - device identifiers, location etc.

 

[Mr Justice]

What about people who's phones are not compatible with their app. Good way to cancel 80% of their customers.

 

[Hamster]

Uh - in what universe do you live? It happens so frequently it doesn't reach the headlines anymore.

Is this rhetorical or do you want me to state the obvious?

 

[Hamster]

What about people who's phones are not compatible with their app. Good way to cancel 80% of their customers.

Poor people use Capitec and Tyme.

 

[Athos]

So now, instead of them just stealing your phone they are going to take you with so that they can force you to tell them your password and/or force you to open the app with biometrics.

 

[boboudts]

How is the OTP delivered? Push?
Or doves?

Carrier pigeon?

 

[Nuro]

So now, instead of them just stealing your phone they are going to take you with so that they can force you to tell them your password and/or force you to open the app with biometrics.

If they are willing to go that far, you have a whole new set of problems. If you are being threatened most forms of security will fail. They might as well force you to reveal your ATM pin, then restrain or worse, kill you while they withdraw funds. Mentioning this since it happened to friends.

 

[backstreetboy]

Poor people use Capitec and Tyme.

Lol this tripe again.

Capitec is adding over 200,000 clients a month as it continues to show strong growth

Capitec has published its annual results for the year ending 29 February 2020, with the group once again showing strong growth.

businesstech.co.za

The group reported that it added an average of 200,000 clients a month last year, with the bank also attracting higher-income clients and advanced better quality loans. The bank now has 13.9 million active clients.

 

[Hamster]

Lol this tripe again.

You need to stop getting triggered by posts about banks. I mean - Android, Apple, Nikon, Canon, white chicks, gingers, racism, veganism, paganism, Arsenal, Liverpool, ice hockey, fruit salad <- those are things to get triggered by. Not banks. Nobody should be a fanboy of a bank. It's wrong and we are worried about you.

 

[lordnokon]

@rpm - can we have a poll:

1. I don't have a problem with it
2. This is stupid
3. This is stupid and I am a developer who understands the technology and have an informed opinion.

3. This is stupid and I am a developer who understands the technology and have an informed (entitled) opinion.