By Business Reporter
FNB Namibia has released Smart InContact which allows FNB App users to allow or decline online banking payments via the FNB banking app.
Smart inContact replaces the current method of approval which is a One-Time Pin (OTP) sent via SMS or email.
Desery Van Wyk, manager digital channels, FNB Namibia explains: “If you have the latest version of the banking app and have performed transactions using the banking app, you can now approve transactions that require authorisation straight from your banking app. This covers those online banking transactions (once-off payments) that require approval. This service also provides notifications for every transaction, right down to 1c – currently; you’ll only get an SMS/email for those above N$100.
“This is a new and exciting innovation, something that we strive for on a consistent basis. Our bricks-to-clicks strategy has been on-going for some time and FNB has been incentivising customers to use its app over other channels for the last two-plus years.” Other enhancements on the security side also include the login in to the FNB banking with fingerprints. This is to ensure that only the smartphone owner and app user of the phone can log in to this banking platform.
Van Wyk further adds that there were certain functions or transactions on online banking that required authentication i.e. an OTP (one time pin). These included adding a new recipient, performing a once-off payment, changing account settings and the like. “For these transactions you will receive a Smart inContact message via your FNB banking app where you will be able to approve the transaction. If you suspect unauthorised activity on your account, you will be able to report fraud immediately via the banking app.” Importantly, the Smart inContact change also significantly reduces the risk around fraud related to ‘SIM swaps’ as the app itself needs to be linked (and verified) against each smart device/phone.
The notification service is further far more cost-effective and more reliable than traditional SMSs services which are sometimes congested during peak periods. The bank is one of the highest volume senders of SMSes in the country.
“Finally, Smart inContact will mean customers will be able to action banking transactions while travelling internationally without enabling roaming, provided they can connect to a Wi-Fi network – which is increasingly a non-issue”.
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