Why do you need my phone number?
We use your mobile phone number for two-factor authentication when making transactions on Funderbeam.
Two-factor authentication is the process of requiring more than one measure of security. In the case of Funderbeam, you are using both your password and a single-use passcode sent via SMS. This makes our system much more secure, which is our ultimate priority as we are dealing with your assets.
How it works
When you are making a transaction on Funderbeam, you will provide your password which is known only to you (when you log in) and the one-time password which is sent to your mobile phone (When you start the transaction). This means, that if someone tries to steal your credentials through ie. a phishing attack, they would still not be able to make any transactions on your behalf, as they don’t have physical access to your mobile phone.