Internet banking SecurID token techology?
Sunday, April 11th, 2010
at
1:14 am
sh asked:
Apparently using a seed value, current time and an algorithm the token generates a PIN number. Since the time is same the bank server will also generate the same PIN.
Apparently using a seed value, current time and an algorithm the token generates a PIN number. Since the time is same the bank server will also generate the same PIN.
So there is no wireless communication between the token and bank server right?
Also say today is 4th/Feb/2008 time: 1:00pm exactly. Then the tocken will generate the PIN accordingly. Supposing tomorrow(5th) axactly at 1pm i press the button. Will i get the same PIN?
Please also tell me the disadvantages of this tocken system?
thanks
Filed under: Online Banking
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I’m not sure where you got your information, but it doesn’t work like that at all/
Banking institutions use SVPN’s meaning they are Secure Virtual Private Networks
First you use a username and password to log on to there server and then they check you again to verfiy that the username and password that you have on record with there secure network is correct the 2nd time before you can look at or access anything
The Token ID System was developed to cut down on Hacking and is really still in it’s infancy I suggest you check WEBOPEDIA for more exacting information. there are several different versions/