Article:
Beyond OTPs: The Shift to Passwordless Authentication in Banking
The Bangko Sentral ng Pilipinas (BSP) is considering phasing out one-time passwords (OTPs) for digital banking transactions, citing the growing vulnerabilities of this method. BSP Deputy Governor Elmore Capule emphasized that the agency is exploring stronger security measures to make digital banking more resilient, with biometric authentication and other advanced technologies being evaluated as secure alternatives to OTPs.
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