Viewing profile — mszary

Oh, got ya. In that case it's even better to use the same app for authentication. I though mobile app was not an option for that bank.

You're absolutely right - SIM swapping is a major threat in many parts of the world. If you're a target and the attacker is determined, you could be in serious trouble. However, it…

What about the transactions authorization?

Authentication is one thing. When it comes to banking - the authorization is the key (no pun intended ;) Believe it or not, SMS is still one of the best ways to authorize sensitive…

> The private key is stored on your device, say on iOS it would be stored encrypted in the secure enclave and accessible via TouchID/FaceID. What's important is that even though th…

Seems like it :) but I would be more pragmatic and didn't bash the system for the reasons you brought up :) ad 1 - IMO, it's still sufficient at scale with some basic infra. harden…

> You didn’t explain how this gives you any protection akin to a physical chip on a debit card… In both cases you (an admin) control how many attempts you wish to accept before sac…

You're over complicating this. In fact it might provide a similar kind of protection the physical chip provides for debit cards. Let me explain: 1. Someone (anyone) initiates the l…