There are a number of ways that bad actors can gain access to your digital banking credentials - whether you accidentally share them with someone through phishing campaigns, by reusing a password that was involved in a previous data breach with a different provider, or simply by guessing. Once a bad actor has your username and password, they can log in as you and take control of your digital banking account. Out of Band Authentication adds an extra layer of security to your digital banking account by requiring an additional one-time-passcode, sent to a trusted device, before completing certain tasks within digital banking. Once you "bind" your trusted device for the first time, only that device can receive codes, which makes it much more difficult for a bad actor to gain access to your account. TCB has partnered with Cisco Duo to provide the out-of-band functionality. When you log in from an untrusted device, or initiate a payment to a new person, you will be prompted for your one-time passcode. Just another way TCB is working to keep your accounts secure!
There are multiple "stopping points" in digital banking that will require additional authentication, such as logging in from an unknown device, adding a new payee, sending a SpinPay P2P payment, or submitting an ACH file. To continue with the transaction, you will be required to enter a one-time passcode generated from the Duo app, or delivered to you via text message or voice call.