Banking

FIRST National Bank (FNB) customers are required to authenticate online transactions on the FNB app, rather than via the traditional one-time-PIN sent to their cellphone or email address. This same process now applies when customers contact the FNB customer service/banker suites and contact centres. It will be the bank’s primary means of authentication, marking a shift from traditional methods of verifying personal information such as your cellphone number, identity number and physical address. The chief executive of FNB Retail, Raj Makanjee, says: “The secured authentication rate within the FNB contact centres is already at 70% adoption. The remaining 30% is spread between cellphone banking smart inContact authentication and customers who use the card and PIN authentication.”