𝐔𝐀𝐄 𝐁𝐚𝐧𝐤𝐬 𝐭𝐨 𝐏𝐡𝐚𝐬𝐞 𝐎𝐮𝐭 𝐒𝐌𝐒 & 𝐄𝐦𝐚𝐢𝐥 𝐎𝐓𝐏𝐬, 𝐌𝐚𝐧𝐝𝐚𝐭𝐞 𝐀𝐩𝐩-𝐁𝐚𝐬𝐞𝐝 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐒𝐭𝐚𝐫𝐭𝐢𝐧𝐠 𝐉𝐮𝐥𝐲 𝟐𝟓

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

 

⚠️ Disclaimer: This post is for general informational purposes only and not legal advice. For specific guidance, please consult a UAE legal professional.