Abu Dhabi, July 24, 2025 – In a landmark move to strengthen cybersecurity across the financial sector, UAE banks will begin transitioning away from One-Time Passwords (OTPs) sent via SMS and email, replacing them with app-based authentication methods starting 𝐅𝐫𝐢𝐝𝐚𝐲, 𝐉𝐮𝐥𝐲 𝟐𝟓. This directive, issued by the 𝐔𝐀𝐄 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤, is part of a national strategy to modernize digital banking and safeguard customers against rising cyber threats.
- 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐓𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧:
- 🗓️ Phased
Rollout: While implementation begins immediately, full discontinuation
of SMS/email OTPs is mandated by March 2026. During this period,
some institutions may maintain transitional access.
- 📱 Secure
App-Based Verification: Customers will authenticate transactions
through their bank’s mobile app using technologies such as push
notifications, biometrics (facial recognition or fingerprint), or secure
PIN codes.
- 🔒 Improved
Cyber Defense: The shift addresses vulnerabilities like SIM swapping
and phishing associated with traditional OTP channels, strengthening trust
between banks and authenticated devices.
- 🏗️ Infrastructure
Modernization: This transition underscores the UAE’s commitment to
building a resilient financial ecosystem, in alignment with global best
practices.
- 👥 Customer
Readiness: Banks are advising users to update their banking apps and
enable in-app verification features to ensure uninterrupted access and
security.
The initiative mirrors similar
reforms in Singapore, Malaysia, and other digital-forward economies,
highlighting the UAE’s proactive stance in financial security innovation.
#UAEBankingReform, #DigitalSecurityUAE, #NoMoreSMSOTPs,
#AppAuthentication
#CyberSecureBanking, #UAEFinancialInnovation, #CentralBankUAE
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