The Tribune

Fidelity Bank (Bahamas) yesterday announced that it is introducing more robust security features to protect online banking clients against the rising trend of fraud.

The BISX-listed bank said that with immediate effect every online transaction that customers initiate will now require a special code.

This code will be texted to the customer’s private cell phone each time an online transaction is initiated.

As a result, every transaction will have a unique, randomly generated code that must be entered before Fidelity will process the transaction, and this code will only be available on the customer’s cell phone.

Anwer Sunderji, Fidelity Bank (Bahamas) chief executive, said: “We are seeing increasing incidents of ‘Phishing’ by unscrupulous people who are using information they illegally obtain to cheat innocent customers.

“We are confident that the new measures, which include additional security features we are announcing today, will substantially reduce the incidence of online fraud. The new features are effective immediately, and online-initiated transactions will only be processed using the texted code.

“We urge our customers to sign up immediately to the new features when they log on to https://www.fidelityonline.bs and follow the simple step-by-step process that we have highlighted on the website. Our customer service people are on standby to assist you in case you have a problem. Our online features remain available free of charge to all our customers.”

Mr Sunderji added: “Fidelity is proud to be pioneering cutting edge technology, and leading the way to a safer and more secure banking experience.

“We were the first bank to introduce seamless branch banking, debit cards, loyalty programmes and free online banking. The new enhanced ‘fortress’ features continue the pace making reputation we have already achieved.”