MBCA Bank recently upgraded it’s “MBCAnet”, the bank’s Internet banking platform in a move it said was aimed to deliver enhanced convenience and security to its customers
In a statement the bank said this was in response to the frequent cases of Internet-related frauds and phishing scams, a lot of which have resulted in financial losses to individuals and companies.
“MBCAnet was therefore upgraded in a deliberate effort to strengthen its capacity to detect unauthorised access to clients’ accounts,” the bank said.
“Among other enhancements, MBCAnet now sends all new passwords to a client’s mobile phone rather than on printed letters as before. This reduces the chances of unauthorised persons accessing the new password.”
MBCA said a “one-time password” functionality has also been included meaning the bank now sends a transaction-specific password to a client’s mobile phone before the client can make a once-off payment or add a payee.
Pursuant to the enhancements MBCAnet users can no longer log on to different machines at the same time using the same log-on credentials, that is, same profile number, user ID and password.
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“MBCAnet continues to offer tailor-made banking services under these improved product security features,” the bank noted.
It said this was a secure and convenient Internet banking product.