Tyntec Launches One-Time sms passwords for banks

Link: webitpr | Tyntec Launches Mobile One-Time Passwords For Banking Industry

Enterprise-quality SMS provider TynTec today announces the launch of mobile One-Time Passwords (OTP) for the banking industry.  The service, which will enable banks to send customers secure single use, time limited passwords for access to tools such as online banking, uses TynTec’s proprietary SMS back-end infrastructure, giving guaranteed secure delivery of all messages within 5-15 seconds.

Now there’s nothing particularly special, I don’t think, about sending out a time limited password by SMS.

However, what is special about TynTec’s announcement here is that they’re actually *showing* banks how the technology could (and should) be utilised. The one thing I kept forgetting when I was sat there in front of a client talking about our mobile capabilities was that I was the mobile geek, the client was not.

So when I said things like, “Messages arrive in and messages arrive out. We can do anything with them” — I thought I was being comprehensive. Not at all. It’s much better to have a menu of possible services.

Walk up to a bank and ask them if they’d like an SMS gateway, you’ll probably get a blank response. Ask them if they’d like to save X million by sending out one-time passwords via an SLA’ed text message instead of post, then you’ll probably get a better response. I’m all for ‘productising’ mobile services into easily understandable services.