Digital Identity

For online banking, you need a digital identity. You can think of this as a virtual ID card, with which you authenticate yourself when you log in (= prove that it is really you).

It’s a piece of evidence backed by an independent, trusted provider. In Luxembourg, LuxTrust is one such certification body. With LuxTrust, you can establish a secure connection to your bank in just a few clicks and confirm your banking transactions in your online banking area.

What digital identification measures exist?

There are several types of LuxTrust products:

Token: a small electronic device with a screen that fits on your keychain.
SmartCard: looks like a credit card or driving licence. You can connect them to your computer: either directly into the slot provided for this purpose, or with the help of a reader.
Mobile App: a mobile application that can be downloaded to your smartphone from the Apple App Store or Google Play.
Scan: a small device with a screen, a small camera and an on / off button.

What is multifactor authentication?

LuxTrust products are used for so-called multifactor authentication, which provides an additional layer of security. Multifactor authentication means that you have to confirm your identity several times when you log in. This is mainly done in the form of an additional code, which is sent once for the specific account login request and must be entered. This code can be obtained via token, app or SMS.

Multifactor authentication is often done in 2 steps. This is referred to as 2-factor authentication (2FA).

What is a Token?

The Token is currently the most commonly used product for verifying your digital identity. It is an electronic device that generates a one-time password (OTP) at the touch of a button, which you combine with your login information (user ID and password). This increases security and protects your confidential information from unauthorized access.

How should you store your token?

Attention: if the token comes into the hands of another person, they can use it and pretend to be you. That’s why it’s important to keep the token in a safe place where no one has access. In the case of the Token App, this is a little different, as it is located directly on your mobile phone. However, it is important to note that if you lose your mobile phone or if it gets stolen, you must immediately block your LuxTrust access.