In comparison to its prior SMS One-Time-Password (SMS-OTP) used to verify certain banking transactions, such as fund transfers and credit card bill payments, UOB Mighty Secure strengthens security, as customers just need to log onto the UOB Mighty app on their smartphone or tablet where they will be prompted to create their UOB Mighty Secure PIN.
Moreover, the two-factor authentication process offers robust protection against fraudulent transactions. Thus, by using this solution, customers will no longer be obliged to obtain a one-time SMS-OTP every time they wish to make a transaction.
In addition, UOB Mighty Secure allows users to transact from anywhere via the Internet. As per the company’s data, almost 60% of the customers now use their Internet and mobile banking services to make fund transfers and online payments, and to pay their credit card bills.
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