The two factor authentication solution is aimed at providing an authentication process between the bank and its online banking customers. BSP online banking customers will need to employ either the use of SMS One Time Password (OPT) or e-token in order to add a payee, edit an existing payee, undertake a transfer of funds, schedule future payments, edit scheduled future payments or transfer funds over and above pre-approved limits. To prove that an attempted transaction is genuine, BSP relies on a users mobile device.
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