The Commonwealth Bank of Australia (CBA) has commenced a final roll-out of two-factor authentication (2FA) systems that will see 400,000 customers of its NetBank internet banking service upgraded to the secure log-in technology.
National Australia Bank is confident that it has the tools it needs to leapfrog rivals by adopting three-factor authentication, adding an extra means of security to the normal two factors most Australian banks offer customers to secure their transactions.
The Commonwealth Bank says some customers are experiencing difficulty logging on to its Internet banking service.
Australian company Cybersource says it's currently talking to two domestic banks about providing Linux-based bootable CDs to consumers to ensure Internet banking security.
Commonwealth Bank of Australia's extended internet banking outage earlier this year affected the remuneration of its top technology tsars, including chief information officer Michael Harte, the executive revealed today.
Australians are continuing to turn to electronic banking channels despite excessive hype over security problems such as skimming and hacking, according to the Commonwealth Bank of Australia.
Get an insider's look at the recent history and potential imminent future of Australia and New Zealand Banking Group's technology operation in the third of our Changing of the guards series examining generational change in the nation's big four banks.
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