I was notified by Simplii about Simplii Financial Online Banking security enhancements. I was asked to update my contact information. What is this about?

To reset your forgotten Simplii Financial Online Banking password, or to perform a sensitive transaction like paying a large bill or adding a new e-Transfer recipient, Simplii may send you a one-time verification code to one of the contact methods on file with us (email, text or phone call). To ensure you receive this code, we request you confirm and/or provide us with your contact information.