(NLDO) – Mobile Banking applications will not allow the function of remembering secret access codes, but there are still secrets for convenient and secure login.
According to Circular 50/2024/TT-NHNN, from January 1, 2025, banking applications will no longer allow the function of remembering login passwords. This regulation is introduced to enhance security for users when using online banking services.
Removing the password memory feature will help reduce the risk of information disclosure or password theft, thereby increasing account security for customers.
Customers transact on banking applications.
To meet this requirement, payment service providers and payment intermediaries will have to verify customer information when they access the Mobile Banking application for the first time or on a new device. This verification includes OTP code verification via SMS, Voice OTP or other methods such as Soft OTP or Token OTP, through the phone number that the customer has registered.
In some specific cases, biometric information such as fingerprints or facial recognition needs to be used to verify customer identity, in compliance with the provisions of Clause 5, Article 11 of the Circular.
In addition, banks also need to deploy technical solutions to detect and prevent unauthorized interference with Mobile Banking applications installed on customers' devices.
These regulations are considered an important step forward in protecting users from increasingly sophisticated cybercrime risks, especially methods of stealing information, property or online fraud.
However, currently, a large number of users, especially the elderly or those with little knowledge of technology, still have the habit of remembering their banking application login passwords.
Speaking to a reporter from Nguoi Lao Dong Newspaper, a representative of TPBank said that customers can still use modern login methods such as FaceID or TouchID to log in to banking applications, instead of entering passwords in the traditional way. These methods are not only safer but also bring convenience in the process of online transactions.
"With the TPBank app, current users are familiar with using the device's faceID/touchID to log in instead of having to enter a password. Customers can log in with their face/fingerprint on the device, instead of having to remember and enter a password each time they make a transaction. In case customers forget their password or need to use a login password, by applying the most advanced biometric technology available today" - said a bank representative.
According to regulations, from January 1, 2025, account holders or cardholders will have their transactions suspended or restricted if they do not update their biometric information or if their identification documents such as ID cards, passports, and visas expire.
At that time, account holders can withdraw money at ATMs or use physical cards to make transactions at POS machines but will not be able to make online payments.
Biometric authentication is emphasized by the State Bank as necessary to ensure that account and card information belongs to the owner. This is also an important measure to help limit fraud and scams related to accounts that are not owned by the owner, while minimizing damage to customers if security information is stolen.
Source: https://nld.com.vn/tu-1-1-2025-ung-dung-ngan-hang-khong-duoc-ghi-nho-mat-khau-nguoi-dung-nen-lam-gi-196241227102356808.htm
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