CHENNAI: Public sector Chennai-based Indian Overseas Bank has introduced 'Akshara', a new online portal designed to simplify and enhance the security of PIN generation for its customers. It aims to provide a convenient and user-friendly way for account holders to generate debit card PINs.
As per bank officials, traditional PINs generated by users for accessing credit or debit cards, are based on easy identifications like birthdays or sequential numbers, posing security risks to customers.
IOB has launched the new portal that allows users to generate PIN using Tamil words or phrases that are personally meaningful yet difficult for fraudsters, a release said. Indian Overseas Bank MD-CEO Ajay Kumar Srivastava said, "By this initiative, we are not only embracing the power of digital banking but also honouring the linguistic preferences of our valued customers."