One Time Passcodes

A bit of a random one . . .

Could Chip’s Open Banking connection be generating One Time Passcodes??

The reason I ask, is I’ve been receiving OTP’s to ‘log into Internet Bank’ that I haven’t been requesting.
Having spoken to my bank (NBS) they can’t fathom from where they are coming; it’s just occurred to me that Chip’s banking connection could be a possibility . . .

Is anyone able to confirm or deny, or anyone else experienced the same?

Hi Viney I’m having similar problems log ons registered when I’m not on line or driving etc.
Thought it was fraud and changed all security info but it’s still happening

How strange . . .
Who do you bank with out of interest?
I’ve been assured there’s no been no attempts to access my account, which doesn’t explain why the OTP’s are being sent . . .

@sarahchip @SamyChip is this something either of you’ve come across? Is it theoretically possible?

Hi @Viney,

Hope you’ve been well.

Yes that would most likely be Chip generating these OTP requests… Just to give a bit of background on this:

The EU banking regulation called PSD2 was supposed to go into effect on 14 September 2019. This didn’t happen, because most banks were not ready to implement this, so the initiative was pushed back by 18 months. However, This didn’t stop some banks from implementing 2FA on open-banking connections which has caused us and other FinTechs some issues.

We have a larger project in play to revamp our bank connections and use true open banking with any UK financial services organisation which is a longer-term strategic solution to any bank connection issues, however, in the meantime we have a small fix task that we’re working on to “put a plaster” on the issue.

So what’s happening now is that your bank is expecting you to put in a OTP when connecting your Chip account, but our OB provider doesn’t have the capability to do that.

Expected delivery date of the smaller fix-task is approximately two weeks. Sorry for the delay on this.

@SamyChip all good thanks.

Thanks for the explanation; at least I now know what causing them. :+1:t2:

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Yes, @Viney, I was also getting these random OTP’s and goi g crazy. The last one happened yesterday night at 2:30 a. m. I immediately called my bank and reported a possible fraud. They confirmed that there was no problem.