Digital Banking Security - To Protect your Online Transactions

There was a time when people needed to stand in queues at the bank counter to do even basic transactions. However, thanks to advanced banking technologies available today, things have become a lot easier. You can now pay bills, transfer funds, check your balance, and do much more – anytime, anywhere. With the COVID-19 pandemic, especially, this option of transacting from the safety of your home is a powerful tool at your disposal. You can maintain social distancing and not step out of your house while paying your bills and carrying out all other necessary transactions with ease.

HDFC Bank offers a range of MobileBanking apps to meet the changing needs of its new-age customers, such as PayZapp, Perks, UltraCash, InstaAccount, and OnChat. There’s a lot you can do with these Mobile Banking apps and managing all your financial needs is now just a touch away.

For instance, PayZapp, a complete payment solution that gives you the power to pay in just one click. Get the best travel deals, buy movie tickets, shop online, recharge your mobile, pay bills, and do much more. Also avail of great offers and discounts from partner brands. Just link any bank’s debit or credit card with PayZapp and enjoy a safe, fast, and convenient way to make payments.

With this additional comfort and convenience comes the need for more security. Security breaches can lead to compromise of sensitive information and possible identity theft. HDFC Bank constantly updates its security features to make sure your banking experience is safe and secure at all times.

All the banking systems are secured using cutting edge security arrangements, for example firewalls, intrusion detection systems, intrusion prevention systems, and anti-malware. Some specific security measures taken by HDFC Bank include:

  • PIN security: The PIN is generated randomly by the system, then encrypted and stored on the NetBanking system to facilitate authentication using industry-specified encryption standards. Hence, it is not accessible to anyone – not even the system administrator.

  • Additional authentication: A dual authentication process has been set up for different key transactions like SMS OTP (one-time password) authentication and debit card PIN authentication.

  • Virtual keyboard: Customers have the option of using a virtual keyboard while logging in, which protects credentials from being compromised by malware such as keyloggers.

  • Insta-alerts: This service sends instant SMS and email alerts to customers on registering for different transactions such as deposits and withdrawals, and also for carrying out third-party transfer transactions.

There are many more security features, such as a secure web page that uses 128-bit encryption, so anyone over the internet cannot intercept the communication. It also automatically logs out the customer after a period to protect against misuse, displays the customer’s last login details, masks their mobile number so that only the last five digits are displayed, employs a digital certificate provided by Verisign, etc.

HDFC Bank offers an intuitive and interactive mobile banking experience that safeguards your investments. You can now bank smarter by taking advantage of these safe and secure modern banking applications.

If you wish to open an account with HDFC Bank, you can do so right away with their InstaAccount offering. You can instantly open a savings or a salary account from the comfort of your home in four simple steps. All you need is your mobile number, Aadhaar number and PAN number to open an account with HDFC Bank. Once you’ve done so, you’ll instantly receive your account number and Customer ID.

Your NetBanking and Mobile Banking will be immediately enabled. You can begin transferring your funds online and make cardless withdrawals from ATMs. All this convenience, ease and safety is at your instant disposal with HDFC Bank InstaAccount.

Read more about Digital Banking and the benefits of Digital Wallet now.