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How Does The Bank Digital Token Work?

Among the security measures adopted by the bank for online operations, is the use of a token. In this article, we explain how the bank’s digital token works.


What is the banks digital token?

What is the banks digital token?

Financial institutions constantly incorporate innovative security mechanisms that make non-contact operations safer. The rise of the so-called electronic banking has required the generation of new systems designed to provide security. The objective in this case is simple: to prevent fraud in electronic banking operations.

A system that has demonstrated efficiency to reinforce security is the use of a dynamic key. This is nothing more than a password whose validity is temporary, and which is regenerated in each operation. That is, in each operation requested by the user, a key is generated that is valid exclusively for that operation.

Now, in some electronic banking systems still used, the key is generated by the bank. It is then transmitted to the user via email and text message (SMS) to the authorized address and / or telephone number. This has two disadvantages:

  • In the case of SMS sending, the operation requires using two means of connection: telephony and data transmission.
  • In the case of email, use two portals simultaneously: the bank and the mail.

To avoid these inconveniences, a device called a token has been introduced, which allows knowing the password without the need for a connection. This device shows the current security key in force for electronic operations on the bank’s portal. As each user has their own keys, the tokens are customized and only generate the password of a particular user.


How does the bank digital token work?

How does the bank digital token work?

The use of the token, also known as a digital token, is very simple: just press its key. Immediately the display or screen of the device shows a six-digit number, which is the current digital code. Then you just have to put this key in the place that the bank’s portal has arranged for this purpose.

If your financial institution uses a token in its operations, surely you will have already received an invitation to withdraw it in its offices.

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