Shinhan Bank Vietnam Limited (Shinhan Bank Vietnam) has officially launched a new security tool called “Online A-OTP” on its Shinhan SOL Vietnam application (SOL Application) for individual and corporate customers.

The online advanced security tool “Online A-OTP”, integrated into the SOL application, uses an enhanced one-time password (OTP) authentication method to approve financial transactions on the same platform.

Upgraded from Advanced OTP (A-OTP), Online A-OTP enhances and adds numerous features for users, supporting individual and corporate customers in managing their financial affairs without the need for a physical token or visiting a bank counter.

A representative from Shinhan Bank said that in the context of increasing cybersecurity threats and online transactions, the development of advanced security tools like Online A-OTP will be an effective solution to enhance the security of customers when conducting online transactions.

“With the Online A-OTP security tool, customers have better security options, especially being able to set transaction limits according to their needs, thereby avoiding potential risks,” the representative said.

In the near future, Shinhan Bank will develop security methods based on biometric features and FIDO security keys to provide a more convenient user experience while protecting privacy and simplifying the verification process.

Shinhan Bank’s efforts in digital transformation and customer information security have been recognised through important awards.

In May, the bank was honored with a commendation for outstanding achievements in the digital transformation of the banking sector from the State Bank of Vietnam.

It received ISO 27001:2013 certification for meeting international information security standards from the British Standards Institution (BSI) in August.

This certification has contributed to affirming the bank’s efforts in ensuring information security and building trust among customers and partners in maximizing the security of information and personal data. — VNS