An article relating to this blog post on Finextra:
HSBC investigates 'out of band' authentication for Web users
HSBC is investigating 'out of band' authentication security for online banking - in which unique ID log-in codes are communicated by telephone - as a possible alternative to the two factor card reader...
See article
I applaud HSBC and Abbey National for not being lemmings on the European push to chip and pin for online banking.
They are considering alternative methods for two factor authentication, that are both less intrusive for customers, and potentially more effective.
Finextra: HSBC investigates 'out of band' authentication for Web users
HSBC and Abbey have so far opted-out of the national banking industry push to supply online account holders with Chip and PIN-style home banking technology. Such systems are considered vulnerable to man-in-middle attacks and require the consumer to carry a
personal card reader at all times.