It was one step closer to this vision with the national two-factor (2FA) authentication system going live from today.
IDA subsidiary Assurity Trusted Solutions, the operator of this system, also launched its 2FA token named OneKey, which has transaction signing capabilities. Such tokens are deemed to be more secure.
Yesterday, it was announced that Philip Securities, Kim Eng Securities and ST Electronics became the first companies to join this system, and will pilot the use of OneKey among their end users soon.
But as of now, no banks - the largest sector to use the 2FA system - have joined the new national 2FA system. DBS Bank launched its own transaction signing token for Internet banking last week, and has said there are no plans to join this national framework.
ORIGINAL SOURCE
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