INDEPENDENT NEWS

NetGuard Service Extended to Business Customers

Published: Fri 29 Dec 2006 03:52 PM
NetGuard Service to be Extended to Business Customers
Bank of New Zealand announced today a new security measure for Internet business banking customers as an added precaution against online fraud.
Research shows that online fraudsters target customers of financial services more than any other type of business*, says Shona Bishop, general manager marketing, Bank of New Zealand.
“So we are extending our NetGuard service to provide an added layer of security for business customers when banking online.
“The increasing sophistication of online fraud, like phishing scams and other types of e-crime is of concern to us and our customers. We take security matters very seriously and are committed to being a leader and innovator in this area.
“From late February we will offer additional security, known as second factor authentication (2FA), to all our business and personal customers – the only major bank in New Zealand to do so.”
NetGuard for business customers is an electronic token, and works by generating a one-off random code that changes each time customers log on to Internet banking. The Bank is currently undertaking a trial with a small number of customers prior to wider availability in February.
“NetGuard is used at each login, protecting not only personal information from identity theft but also customer funds from the very beginning of the session”, says Ms Bishop.
“NetGuard is like a safe within a safe. Even if a customer’s login details were compromised, fraudsters would not be able to access the account without the NetGuard token assigned to that account. It’s even effective in protecting customer information in high-risk environments such as Internet cafes, where the integrity of the computer can’t be verified.”
Ends
Bank of New Zealand
Be good with money
Bank of New Zealand (BNZ) has been a big part of New Zealand life for over 150 years since its foundation in 1861. The bank employs over 5,000 people and has more than 170 retail stores and 32 Partners business centres across the country.
Passionate about enabling a higher achieving New Zealand, BNZ works with personal, business, agri, and private wealth clients, helping them grow and make their goals a reality.
A subsidiary of the National Australia Bank Group of companies, BNZ is governed locally by a Board of Directors and strives to help New Zealanders be good with money.
Contact BNZ Weekly
Website:
Phone:
0800 275 269
Twitter:

Next in Business, Science, and Tech

Tiwai Deal Gives Time For Managed Transition
By: New Zealand Government
SEEK NZ Employment Report - Strong Job Ad Performance In Quarter Four, Job Ads Up 19% On Quarter Three
By: SEEK
2020: New Zealand’s 7th-warmest Year On Record
By: NIWA
Property Market Set To Cool From Sizzling To Warm In 2021
By: Quotable Value New Zealand
View as: DESKTOP | MOBILE © Scoop Media