Singapore-based DBS Bank will be providing a higher level of security and a better user experience to more than 200,000 of its corporate and SME customers on DBS IDEAL.

With the introduction of the new DBS IDEAL digital token+, customers can now do away with their physical tokens. They will benefit from push authentication technology and more secure logins which tap on biometric facial recognition technology on their mobile devices, the bank said in a statement on Sunday.

With the latest security enhancements, authentication notifications to confirm logins and transactions will be sent via a secure network to customers’ registered mobile devices. This enables them to validate logins to their corporate accounts and perform and confirm online transactions anytime, anywhere.

More Peace of Mind

Previously, customers had to activate their physical or digital token app in order to authenticate and approve transactions. The new DBS IDEAL digital token+ eliminates the need for them to key in one-time passwords (OTPs) or SMS OTPs, which are more likely to be compromised. All they now need to do is confirm their transactions on their registered mobile device with a single swipe.

The DBS IDEAL digital token+ also adds more peace of mind and assurance to the transaction approval process. When approving a transaction, customers will benefit from an extra confirmation message delivered to their mobile device through a separate out-of-band channel to verify transaction details.

Fast-Changing Digital Landscape

«The DBS IDEAL digital token+ significantly enhances online security to mitigate transactions risks for our corporate and SME customers,» Raof Latiff, Head of Digital, Institutional Banking, DBS Bank, said.

«It means that customers who are operating within a competitive and fast-changing digital landscape can now focus on the things that matter and grow their business and be future-ready without having to doubt the security of their transactions. By employing new technologies to meet their increasing security needs, we continue our relentless approach of thinking one step ahead to protect our customers from risks that arise from this digital age,» he added.

The DBS IDEAL digital token+ will be available to all IDEAL users across DBS’ key markets in Asia from May 2019. IDEAL users currently using the IDEAL digital token will be automatically migrated to the new IDEAL digital token+ service.