HSBC inaugurates new Internet banking security device

The lender’s new security device offers added level of security and protection for online customers.

HSBC on Tuesday announced the launch of its new security device to further enhance internet banking security.

Launched specifically for Hong Kong customers, HSBC’s new security device carries an innovative transaction-signing function that provides enhanced protection for existing online services.

By using HSBC’s next generation security device, customers have access to a variety of new online services that enable the streamlined opening of registered accounts for transfer and definition of transfer limits, and increasing of transfer limits.

Ada Chiu, HSBC’s Head of Direct Channels Personal Financial Services, Hong Kong, said: “As customer sophistication continues to grow in Hong Kong, internet banking has gained greater acceptance in the market.

However, with wide spread use of internet banking services in Hong Kong, customer demands for security and convenience have evolved significantly. The launch of a market-first security device with transaction-signing features demonstrates that HSBC remains committed to providing our customers with the most secure and convenient internet banking services in Hong Kong. As demand evolves, we remain steadfast in investing in innovative online solutions to support our diverse customer base.”

Through the introduction of a transaction-signing capability, HSBC’s new security device offers added level of security and protection for customers to perform a broader array of online transactions. A security code is automatically generated when activating the device and by inputting the last eight digits of the beneficiary account number. By activating the security code, customers can complete a variety of transactions including conducting third-party unregistered fund transfers, setting up standing instructions to third party accounts and making bill payments to merchants in confidence, according to an HSBC report.

HSBC’s new security device enables customers to benefit from streamlined online services that were previously paper-based, saving time. Additionally, requests for setting transfer accounts and defining transfer limits, and increasing transfer limits will now be activated in the following working day rather than the traditional three working days.

Customers can now apply for a new security device via HSBC Internet Banking. Upon receipt and activation of the new security device, the incumbent device is immediately rendered as void by HSBC and can be disposed of at discretion or at designated branches.