What is the LB DIGIPASS Application?
- The LB DIGIPASS Application is a smartphone application available for all Android, IOS and Windows phones and such devices.
- The application generates one time Digipass Response Codes used to securely access our Internet bank and to authenticate transaction and transfer instructions.
- The application is PIN protected. If your mobile device comes with a fingerprint reader, biometric protection can also be used.
- If you are authorized to access data of more than one customer in the NetBank, the LB DIGIPASS Application can be configured to support multiple DIGIPASS instances inside the same application.
- Unlike with a Physical DIGIPASS, you do not have to carry an extra device to initiate banking transactions and the LB DIGIPASS Application has no lifetime limitations.
What is a Physical DIGIPASS?
- The Physical DIGIPASS is a battery-powered authentication device, which intentionally looks like a small flat pocket calculator with some extra function keys and which authenticates your transaction and transfer instructions given to us via our Internet bank.
- The device is PIN protected and is blocked if the PIN has been improperly entered three times in a row: it can be unblocked by Loyal Bank remotely if you accidentally do this.
- When the PIN and the transaction details are used the device generates a unique Response Code each time it is used and this Response Code is valid for 30 seconds (our servers compare the Response Code received with one generated at the same time by itself and grants approval only if there is an exact match).
- It uses a "One Time Pad" code generation algorithm which calculates the response you see on the screen a different way each time: this is far safer than a repetitive password or PIN that illicit key-logging software can detect, remember and transmit to a scammer.
- Any tampering attempt such as making a hole in the device or unscrewing the back cover will immediately wipe the software and permanently disable the device.