The features are based on the BOQ token which matches randomly generated codes to a customer's profile to verify outbound online transactions.

The system then selects either the one time password or the transaction signature, based on a user's profile, to complete the authentication.

While the one time password is a simple temporary code, the transaction signature is more complex, using various user-supplied session data to generate a passcode that authenticates the user.

Bank if Queensland managing director David Liddy said the new BOQ token will attract sceptics of online banking to their enhanced Internet banking service.

"This truly is market-leading technology, and should provide a level of comfort for those customers who have been uncertain about Internet banking in the past," Liddy said, referring to an ACNielsen Retail Banking report commissioned this year which found 30 percent of Web users avoid Internet banking because of transaction security.