BOV clarifies 15-digit mobile banking security code

Bank of Valletta (BOV) has clarified the purpose of a controversial new, mandatory 15-digit security password for mobile banking, introduced this month, explaining the length is necessary for security, and that the password will not need to be regularly inputted.

Responding to questions from BusinessNow.mt after the security measure – and its rather stringent requirement of 15 characters including an uppercase, lowercase, numerical, and special character – drew flak on social media, the bank explained the feature would not replace existing authentication methods.

"There will be no change to the current log in procedure to BOV Mobile Banking. This login will continue to be effected with biometric authentication or a four digit PIN," a spokesperson explained.

Instead, the new security code, introduced on 17th September, will only be used to generate an activation code when a BOV Mobile subscriber needs to install the application on a new device.

Far from being a cumbersome waste of time, the spokesperson explained, the new feature should save customers time, as prior to its introduction, they would have to get in touch with the bank's customer service centre of physically visit a branch if they needed to obtain an activation code to activate the banking app on a new device.

"This new service allows customers to download the BOV Mobile App on their device, and generate an activation code through the use of the 15 character password. The length of the password is meant to bolster its strength and reducing the risked of being hacked."