Wednesday, May 22, 2024
27 C
Brunei Town

BIBD introduces enhanced security features in NEXGEN Wallet

Bank Islam Brunei Darussalam (BIBD) is set to launch a series of comprehensive awareness campaigns today, aimed at educating customers on an upcoming mandatory BIBD NEXGEN Wallet application update focused on security enhancements and improved user experience.

The campaign encompasses a series of social media video content on cybersecurity andN awareness roadshows alongside dedicated branch clinics.

In the application update, which will be rolled out in phases to iOS and Android users, three key security features are set to provide an additional layer of protection for account holders.

The first feature, ‘device binding’, is an innovative feature that tethers the account holder’s NEXGEN account to the registered mobile device.

Any attempt to log in to the account from an unrecognised device will be denied, significantly reducing the risk of unauthorised access.

The next feature is ‘favourite maintenance’, a user-friendly function which empowers account holders to manage their ‘favourites’ list, that allows for quick and convenient fund transfers, as well as account verification.

Account holders may also delist their ‘favourites’ at anytime through the app.

BIBD will also bolster security with Two-Factor Authentication (2FA). “This update introduces a two-tiered One-Time Password (OTP) system for added security. An SMS OTP will be required for registering a new device for binding,” the bank said.

“Once a device is bound, a secure in-app OTP will be generated for actions like registering ‘favourites’ and conducting account-to-account transfers.”

The customer service clinics will be held simultaneously at branches including Manggis, Serusop, Kiulap, Tanjung Bunut, Tutong, Kuala Belait and Temburong, from May 13-18.

“This initiative mirrors BIBD’s continued commitment to address public concerns on the security of their online banking activities, hence the bank recognises the importance of regular communication and user education,” said the bank.