SINGAPORE: DBS customers will not be able to use their physical tokens to access the bank’s online services from April.
DBS said on Wednesday (Jan 20) that it will fully transition to digital tokens after three years of progressively replacing its physical tokens.
The bank will stop issuing physical tokens on Feb 1, said DBS. From April, only digital tokens can be used to access DBS’ digibank services, it added.
DBS said that about 90 per cent of all logins currently involve DBS’ digibank mobile app, where the digital token is embedded.
“As more customers take to mobile banking, our aim is to ensure that access to our services is as seamless and as fuss-free as possible, without compromising on security,” said Mr Jeremy Soo, head of consumer banking (Singapore) at DBS.
“Digital tokens save customers the hassle of carrying around a physical token, and of being unable to access our online or mobile services should customers accidentally misplace them,” he added.
