Commonwealth Bank offers all NetBank customers free internet banking security
26 March 2007
The Commonwealth Bank is offering more than 2.3 million customers access to free SMS authentication as the Bank begins the final phase in its two-factor authentication program for internet banking service, NetBank.
"NetBank now provides access to NetCode SMS – a free service which allows customers with a mobile phone to receive a one-time code to authorise certain NetBank transactions," said Michael Cameron, Commonwealth Bank Group Executive, Retail Banking Services.
Last month, 30,000 highly active NetBank customers were sent a token which also produces a NetCode unique to the token and that automatically changes every 30 seconds. The customer inputs the NetCode into NetBank while logging in.
"Customers tell us that stronger internet security is important and so we have decided to make NetCode security available to all NetBank customers. All customers can now register for NetCode SMS within NetBank," said Mr Cameron.
Mr Cameron said NetBank was the only Australian online banking service to provide all customers with access to their choice of free two factor authentication.
"Our trials of SMS security have confirmed that it is the best option for most customers. It is simple and convenient. We also have the option of a token, which some of our more active customers will prefer. Our approach is to match the security solution to the banking needs of the customer," said Mr Cameron.
"NetBank is constantly evolving, and we are delighted to provide customers with greater peace of mind with this security upgrade. We will continue to develop NetBank’s security features to ensure that our customers are protected from fraudsters," said Mr Cameron.
Customers can register for NetCode SMS in NetBank or find out more by visiting netbank.com.au/sms.
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For further information, please contact:
Phone: (02) 9378 2663
Mob: 0414 789 649
NetBank is Australia’s most visited online banking site with more than 2.3 million registered customers.