What is a digital token and why you should use it

Technology has advanced in leaps and bounds in recent years, bringing about greater accessibility and conveniences, such as online shopping, faster network connectivity and internet banking.

Find out the benefits of the digital token and why you should use it to keep your online transactions secured and safe.

What is a digital token?

The digital token, or “soft token”, provides you a seamless and secured authentication journey for your digibank online, eNets and eCommerce transactions.

Unlike the physical token, the digital token is a feature within your digibank mobile app. This means that you no longer have to carry one extra item with you when you move around. All you have to carry with you is your mobile phone, which is already integral to most of us in our daily lives.

Why you should use a digital token

1. Digital token adds convenience to your banking experience

Using the digital token, everyday banking transactions can be authenticated with one tap on your digibank mobile app.

You no longer have to fret about reminding yourself to bring along your physical token wherever you go. This added convenience will be greatly welcomed especially for those who travel often for work or leisure. Say goodbye to days of dealing with the frustration of not being able to complete your banking transactions while overseas because you forgot to bring your physical token.

Switching to the digital token alleviates your worry of misplacing your physical token or running the risk of your physical token to drain of battery.

What’s more, the digital token can generate an OTP (One-Time-Password) almost instantly, making authentication quicker as compared to a SMS OTP.

2. Digital token offers fuss-free banking with peace of mind

Do you know that SMS OTPs can be intercepted even before they reach your phone? While these may not be as frequently reported, there is still a chance that your money can be fraudulently spent by criminals who are lurking around in the cyber space.

With a digital token, you no longer have to use the SMS OTP to authenticate your banking or shopping transactions, thus reducing the risk of having your OTP intercepted by those who have ill intentions.

On top of that, the use of a digital token enhances the security of your banking transactions, with its registration allowed and usage enabled only on one mobile device. Yours.

An additional layer of security is included by encrypting each authentication request that is sent and received via the digital token. This makes it much harder for cyber criminals to intercept the OTP and illicitly access your money.

3. Digital token is easy to set up and easy to use

While the digital token might sound like it requires effort to install and use, it’s not hard. It only takes 3 simple steps to set it up with just your mobile device and email.

Once that’s done, a notification will pop up on your mobile phone whenever you are asked to authenticate any banking transaction. To enjoy this convenience, remember to enable your push notification for your digibank mobile app on your mobile device.

Simply tap on the notification, and you will be brought to the digibank mobile app to approve or reject your transaction. When it’s done, the banking transaction will be completed without you having to key in your OTP manually.

4. Digital token lets you do your part to save the environment

Besides the benefits of added convenience and enhanced security, switching to a digital token comes with the intangible benefit of saving the environment too. That’s because the digital token is a greener and more sustainable technology.

By switching to the digital token, you are doing your part towards a more sustainable future through reducing the use of plastic to save Mother Earth.

How to set up your digital token today

You can check out our step-by-step guide here on how to set up your digital token.