Bank of Maldives (BML) introduces a device management feature aimed at strengthening the security of the bank’s digital banking suite (internet and mobile banking services).
The feature actively monitors ongoing sessions and automatically logs out devices that have access to internet and mobile banking. Customers will now be able to use this feature to review and log out from specific devices or all the devices as they see fit.
The feature allows customers to closely track the most recent device access and login locations.
“This feature is designed to thwart potential scams,” BML said.
Speaking about the new feature introduction was BML CEO Karl Stumke, who said, “Our recent system updates and the introduction of critical features are part of our ongoing efforts to enhance security.”
“These changes empower customers to take proactive measures against potential scams,” Stumke added.
BML also introduced a “kill switch” recently to protect customers from scams, which allows customers to promptly suspend internet banking and card services in emergency situations.
Earlier, the bank introduced a two-factor authentication feature for both internet and mobile banking logins. Additional to this, BML added OTP (One-Time Password) verification to all scan-to-pay payments alerting customers whenever a login attempt has been made.