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What is a One-time Password (OTP)?

April 26, 2017one-time OTP password

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What is a One-time Password (OTP)?

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Ans: A One-time Password (OTP) is a string of numeric characters that is generated by your 2FA Token and is used as a 2nd level of authentication during the login process to Internet Banking. 2FA is secure because every OTP is unique and can only be used in conjunction with a user’s Internet Banking Access Code. In addition, every OTP is valid for a few minutes only and can only be used once*. * Users will have to obtain a new OTP if he exceeds the time limit to enter it into the system.