BNZ has made logging in to its mobile banking apps simpler and smarter thanks to a New Zealand-first security innovation.
The bank’s Wellington-based development team have come up with a system that incorporates secure two factor authentication into the mobile application itself, removing the need to manually enter login details while using mobile banking. This means there is now one step less required to log in to BNZ mobile banking.
For users of BNZ’s mobile apps for iPhone and Android, the newly available Mobile NetGuard will replace the NetGuard cards used to provide two factor authentication when logging in to BNZ mobile banking while on the go.
Instead of having to read a code from their Netguard card grid when logging in every time, users will be able to associate the handset with a known Netguard by entering some of the codes so that the BNZ system can authenticate the app. Once this is done, that app is able to login to the mobile service without the use of Netguard cards. If the user installs the app on another smartphone, the previous one is automatically disabled.
BNZ director - retail, Andy Symons, explains what the arrival of Mobile NetGuard means for customers.
“Our NetGuard system provides BNZ internet banking customers with a safe and reliable form of second factor authentication. It ensures online banking is secure, but the process of having to enter an access number, a password and a separate set of values from a NetGuard card doesn’t gel with the whole mobile experience.
“What Mobile NetGuard does is turn the phone itself into the NetGuard device meaning customers need only enter their password to log in via our iPhone and Android apps. In the background, NetGuard is still there generating a unique security code for each and every session without impacting the user experience”, says Symons.
Use of BNZ Mobile has proven incredibly popular with customers. Since the release of the iPhone app in June 2011 and New Zealand’s first Android banking app in August, BNZ has seen monthly logins jump from 60,000 to 180,000. In just nine months some $250,000,000 worth of transactions have been made using BNZ’s mobile offerings.