Multi-factor authentication adds an additional layer of security to help protect your money.
Security threats are becoming increasingly prolific, as well as more sophisticated, so it is worth adding multi-factor authentication (MFA) to all your financial accounts. This is an additional layer of security beyond traditional username and password combinations. More information below.
It's easy to add MFA to your Simplicity account, just follow our step-by-step guides:
Set up using authenticator app (pdf)
Set up using text message (pdf)
What is multi-factor authentication?
Multi-factor authentication (MFA) is a way of verifying users that requires more than one step to complete. Users can’t log in with just their username and password: an additional “factor” is required, such as a code sent via SMS or obtained from an Authenticator app. This ensures users are strongly authenticated and prevents bad actors from accessing an account even if they have acquired the username and password.
Authenticator app authentication
Authenticator apps are installed on your device and generate codes which are valid for a limited time and which can be entered as the additional factor. Examples of popular authenticator apps include Google Authenticator, Microsoft Authenticator and Authy (from Twilio).
Text message authentication
SMS can be used to send users a one-time code which they will then be prompted to enter before they can finish authenticating.
Passkey authentication
Passkeys are a replacement for passwords. A password is something that can be remembered and typed, and a passkey is a secret stored on your device, unlocked with a biometric sensor (such as a fingerprint or facial recognition), PIN, or pattern, freeing you from having to remember and manage passwords.