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Qatar Islamic Bank (QIB) has launched a new application that provides additional security to customers who use online or mobile banking. |
The bank launched QIB Aman, which sends an “OTP” or a one-time password for additional authentication every time a customer makes a
transaction, by SMS.
The OTP is valid for only one minute and is automatically null and void once the user logs in or has completed a transaction. The app aims to combat spyware or key-logging programmes that attempt to capture a client’s log-in information.
D Anand, group general manager (personal banking), QIB, said: “QIB Aman is another example of how the bank is taking all possible security measures to protect its customers’ information.” He added that the launching of the app is in line with a directive from the Qatar Central Bank.
“The use of OTP gives extra security to online transactions and also offers peace of mind to our customers, who can be assured that even if a spyware programme manages to gain access to their log-in details, their personal banking information remain secured because of the multiple security barriers,” Anand said.
QIB Aman is available in English and Arabic. “The app is more convenient to use than SMS to generate the OTP. But both are secure methods of ensuring that only genuine customers can log in when accessing their accounts online,” he said.
The app is always accessible even if there is no telecom network available or if the customer is out of the country.
Once a customer registers for the service, an OTP is requested every time a client logs in to his or her bank account. In order to activate the OTP application for the first time, the customer needs to log in using Internet banking where he or she will be asked to confirm his or her registered mobile phone number.
The QIB Aman app can be downloaded using iPhone, Android, BlackBerry, and Windows operating systems.
Once the application has been launched, an activation code is sent via SMS, which has to be entered into the required field on the Internet banking web site. Every time a customer logs on to Retail Internet Banking, an OTP code will be generated by the QIB Aman app in order to complete the log-in process and start any financial transaction.
For customers without a smartphone or for those who prefer to receive their OTP via SMS, initial activation of the system is similar to the activation process for the QIB Aman app.
Once the mobile number is confirmed, an OTP is sent via SMS every time the customer logs in to Internet banking or wants to complete a financial
transaction.
