Macquarie Group (ASX:MQG) said Macquarie Bank's digital security application, Macquarie Authenticator, has surpassed one million users, as customers increasingly shift away from short message service-based two-factor authentication in favor of more secure verification, according to a Monday statement by the group.

The application notifies users of account activity in real time, allowing them to approve or deny transactions with detailed contextual information, the group said.

Shares of Macquarie Group fell nearly 1% in recent Monday trade.