The Royal Bank of Canada is using PIN numbers – combined with biometrics and card authentication – on its mobile app because consumers are less likely to give away PINs online versus other personal information that scammers can take advantage of.

As consumer fraud losses climb, RBC is integrating the traditional safeguard of a personal identification number (PIN) into its mobile app authentication process because people are less likely to share it online. 

“A PIN is a well-known asset and not something that consumers are likely to share as much as other information,”” RBC’s chief digital officer Peter Tilton told American Banker. The IT project of implementing PIN on mobile lasted several years, he added. In addition to their PIN, app users will be prompted for either biometric information (facial recognition or fingerprint) or to tap their debit card to their phone.  

Relying on this classic security measure helps protect against organized crime rings, though it is still susceptible to “friendly fraud” where the attacker knows their victim personally and has their PIN. 

Read the full American Banker story here.