In South Africa, ABSA (Barclays owned), First National Bank and Nedbank use this.

You get a text when logging on, on creating a new beneficiary, and again on paying a new beneficiary for the first time.

Verifications are randomized strings of 8 characters.

ABSA's SMS verification system is flawed though. Their internal network allows _anyone_ on site to change a client's telephone number, which allows employees to effectively steal, whilst keeping their security flag flying.