Survey: 94% of customers choose fast SMS to confirm transactions

It is very important for current customers to receive financial services as swiftly as possible and at a reasonable price. Based on current trends in the field of finance and customer needs, PrivatBank offers to its customers various methods of authorisation such as SMS, code cards, Digipass or PrivatSecure mobile application.

In January 2018, the bank carried out a survey to determine which one of the transaction authorisation means is preferred by customers. Statistics show that SMS-code is the most popular secure authentication tool among PrivatBank customers – it is used by 94% of the customers. Customers immediately receive a unique digit code on their mobile free of charge, which is valid only for a certain transaction up to EUR 20,000. Every customer can select his or her own limits. The important thing is that the customers receive the message on their mobile within a few seconds and can process their transactions as quickly and easy as possible.

Based on customer feedbacks, now we are sure that we have developed the authentication solution which meets customer needs and which is fast, safe and user-friendly for customers of all generations. At a time when the world becomes more and more digitalized and customers change their habits, it is very important to offer services that meet their needs,

says the member of the PrivatBank board, Robert Christian Schoepf.

PrivatBank customers can still assess to the internet banking with the code card to use services in a view mode, without possibility to effect payments. Statistics show that, compared with January 2018, this year 58% of the customers, who have previously used code cards to view account information, started to use free SMS.

In the interests of the safe digital authentication, while executing transactions above EUR 20 000, PrivatBank suggests to use codes generated by Digipass device or PrivatSecure mobile application, which have virtual code generator functions, ensuring easy authorisation in the internet banking via mobile. PrivatSecure mobile application requires internet connection only once, during activation.

The number of Digipass users remains unchanged – 5% both in January last year and this year. More than 40,000 customers use PrivatBank financial services in Latvia.

There are customers, who like modern solutions, but also there are customers, who prefer the traditional manner of service provision. For customers is important to receive financial services rapidly, since the time-saving is highly appreciated by people of all age groups under conditions of the fast-paced 21st century.