Unfortunately, this kind of security infrastructure is still vulnerable to Man-in-the-middle attacks (MITM) which is what is most of the "phishing" attacks are these days. So the more sophisticated phishers are still going to be able to phish these accounts - just reduces the time of the credential validity..
It might be worth remembering - a false sense of security could be worse than not having security and knowing that there is none.
It might be worth remembering - a false sense of security could be worse than not having security and knowing that there is none.