We thank Ms Irene Tham for her commentary, “Phishing for trouble: The returning physical bank token is no silver bullet” (Nov 6). Ms Tham, while acknowledging the benefits of additional security, also outlined her concerns about the user journey of FAST Identity Online (FIDO)-compliant hardware tokens and how the initiative will be implemented.  

We are currently still in the testing phase of the initiative and are gathering focus group and survey feedback. We are giving careful consideration to the user journeys and adoption challenges before determining the scope and timing of its introduction. The Association of Banks in Singapore (ABS) and the Monetary Authority of Singapore (MAS) will share further details when ready.

ABS and MAS will continue to seek an appropriate balance between convenience and security, particularly for high-risk transactions, and give attention to the customer experience.

Ong-Ang Ai Boon (Mrs) 
Director 
The Association of Banks in Singapore 

Charlene Chew 
Head (Corporate Communications) 
Monetary Authority of Singapore