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Two-factor authentication for WorldFirst

Enhanced security is just around the corner

Passwords are ok, but hands up if you only have one that you use to log in to most things...

We thought so! Don't worry though - we're here to help, by making your online accounts even more secure with two factor authentication (2FA).

What is 2FA?

As the name suggests, 2FA - or MFA (Multi factor Authentication) - means using more than one method to verify your identity when carrying out certain actions online.

2FA is part of a principle called Strong Customer Authentication (SCA). What's this? Well, it just means you have to satisfy two of the below when logging in:

  • Possession - something you have, e.g. a device with a code, like a card reader
  • Knowledge - something you know, e.g. a password
  • Inherence - something you are, e.g. your fingerprint

Some banks are already asking you for this so it may not be that new to you. Most commonly banks ask for a password along with a number generated by a card reader, or sent to you via text - amongst others.

Why is it important?

Using 2FA not only increases the general security of your account, it also reduces the possibility of fraudulent transactions being made on your behalf and account takeovers.

Where will you need to authenticate?

As regulations change over the next year or so it will become mandatory to complete SCA every time you make a payment online, no matter who you are transacting with. At WorldFirst we're getting ahead of the curve to give you the chance to optimise the security of your online accounts right now.

If you opt in to 2FA early, you'll just have to authenticate yourself when you log in. Not much will change, we'll ask you for your username and password as well as an authentication code which we'll send you in order to complete your second factor of authentication. That's it! Once you've logged in, you can use your account as normal.

Over time, as the regulations change, it will be mandatory to complete authentication not only when logging in but also once you are in your account when; adding or editing beneficiaries or making certain payments, for example.

How will you authenticate with WorldFirst?

When you are logging in, after you've entered your username and password, we'll send a text message to your registered mobile phone containing a 6-digit code. Enter this code on screen and you're done - fully authenticated and logged in to your online account!

When is this all happening?

We're developing a way to authenticate via our app too and this will be available later on in 2018.

Still have some questions?

If you'd like to find out more information, you can always get in touch with your account manager via email and they’ll be able to answer specific questions.