Banks, telecom companies to chuck OTPs, adopt silent authentication

Banks and telecom companies are developing a silent authentication mechanism to combat SIM cloning and eSIM swaps. This background check verifies mobile number and SIM card matches, flagging or blocking suspicious transactions in real-time without customer action. This move enhances security beyond traditional OTPs, aligning with new RBI mandates for two-factor authentication.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/E8ShFB3
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