LOTUS Token vs Parallex eToken

A 2FA customer app used to secure transaction

The PARALLEX eToken is a mobile app that generates One Time Passwords (OTPs) to verify electronic transactions. An OTP is a secure and automatically generated string of characters that confirms the user's identity during login or when completing electronic transactions. Electronic transactions, such as web, internet banking banking activities, often require the input of digit codes generated by the PARALLEX eToken app. To activate the PARALLEX eToken, simply login to the PARALLEX Token app with your Parallex Online Banking credentials. Once logged in, Click on Get started -Register Token -Enter Account Number -Select Corporate Customer -Click on Register - the app will authenticate your mobile phone and generate serial number and Activation code _ Create pin and confirm pin Once the app is activated, you can create a unique 4-digit PIN for logging into the application and enjoy 24/7 banking services. SERVICE TO CUSTOMERS AND INFORMATION You will be charged N2,500 + 7.5% VAT for the first time you activate your token. However, in accordance with the Central Bank of Nigeria's directive, this is a one-time charge for your token. Any additional reinstallation or reactivation will be free. For further enquiries about the PARALLEX eToken, you can visit www.parallexbank.com or send an email to customercare@parallexbank.com or call us on 070072725539.. Note: To ensure the security of your OTP, never disclose the OTP code to anyone.