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SAVEN -App on Smartphone ONLY way to login soon
January 24, 2023
2:19 pm
MAC99
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Received this by email today

“New Saven login coming in March
We're working to enhance our digital banking platform with multi-factor authentication.

Coming in March - Saven members will no longer need to use a password to log in to their accounts. Instead, just by using the new Saven app, we'll be able to identify and confirm each Saven member - making it easier for you to access your accounts and complete transactions.

This security enhancement means all Saven members will need to use their smartphone and the Saven app to seamlessly continue to manage their finances.

Getting started will be simple and we will be here to help guide members through the process. We'll be sharing more details in the coming weeks.”

I’ve never been able to login via iPad, Windows PC Chrome or Edge. Now this. I imagine there is a subset of their users who don’t have or wish to use a smartphone. I’m also not sure how they intend to allow sign-in without password just by using their App on a smartphone.

January 24, 2023
4:31 pm
Norman1
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One way is to retire their online banking web site and have app-only access. sf-frown

January 24, 2023
4:36 pm
for interest sake
Ontario
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Rec'd the same e-mail. I've let them know my rejection and have advised that if that's the only way, I'll be closing my accounts.

January 25, 2023
6:29 am
for interest sake
Ontario
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for interest sake said
Rec'd the same e-mail. I've let them know my rejection and have advised that if that's the only way, I'll be closing my accounts.  

My response from Saven ...

Thank you for contacting Saven. Once the upgrade comes into effect, I'm afraid a smart phone is required in order to operate the account. However, you do not actually need to do any banking on the mobile app. You can continue to use the website on your computer, the app is only necessary to authorize any transactions initiated on the website. When you sign into the website or initiate a transaction, you will be prompted to authorize the transaction on the app with a pin number. You will not have to actually do any banking on the app, you will just have to swipe across the screen and enter a four digit pin number.

January 25, 2023
6:46 am
dollarbill
London, ON.
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I was just about to send a fairly large amount to Saven, then I heard this. I did not receive the email!

I'll be pulling out whatever I have there starting now.

January 25, 2023
11:02 am
phrank
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I remember there used to be talk of not discriminating against people who don't own or chose not to use their smartphone just a couple of years ago by our "leaders".

I had Saven on a short list for some financial decisions coming up soon, but thank you for sharing this information so I know to remove them.

January 26, 2023
11:13 am
KamWest
Toronto
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Did you know in some European countries you cannot take public transport without a smart phone?

You most cases you do not need a data plan to own a smart phone for security.

Phones are becoming THE go to device for security and with the new passwordless logins coming it will be almost necessary to have a phone.

I have needed an app to login to Saven for a while now, I think its probably two factor but it never lets me login on the web without verifying on the phone first.

So I think they are just expanding that to all accounts and if you're thinking of closing your account because of it please consider the fact that lots of banks and sites will follow this new protocol soon.

Microsoft and Google are all pushing passwordless so either embrace it or stay in the dark ages. If you want a bank that offers true internet banking then you have to embrace the technology that comes with it.

Just my opinion but with the hack of LastPass recently I prefer a more secure way to login.

January 27, 2023
5:01 pm
TommyT
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Bluestacks 5 I believe is safe if its just a 4 digit code as I also got the email. I have the app on my phone but haven't used Bluestacks 5 in windows to install the app.

January 28, 2023
7:00 am
Kirk
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for interest sake said

My response from Saven ...

Thank you for contacting Saven. Once the upgrade comes into effect, I'm afraid a smart phone is required in order to operate the account. However, you do not actually need to do any banking on the mobile app. You can continue to use the website on your computer, the app is only necessary to authorize any transactions initiated on the website. When you sign into the website or initiate a transaction, you will be prompted to authorize the transaction on the app with a pin number. You will not have to actually do any banking on the app, you will just have to swipe across the screen and enter a four digit pin number.  

Currently, other FIs give you the option of verification by phone or email but I reckon the reality is that email is not as secure. The bottom line is that all FI's will be migrating to more secure technology as internet scammers get more sophisticated (It's big business, bigger than we realize as many incidents go unreported). Users will need to adapt and should realize it is for their own good.
Oh, and BTW Saven is offering 1yr and 2 yr GIC's for an impressive 5.3% interest rate.

January 28, 2023
7:04 am
mechone
Ontario
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Really its to stop fraud ,if your money was gone ,you would be on the phone yelling wheres my money. It protects them and you having a second layer of security.
EQ and hubert do it on my accounts

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