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 ๐ ๐ซ๐ข๐๐๐ฒ, ๐๐ฎ๐ฅ๐ฒ ๐๐. This directive, issued by the ๐๐๐ ๐๐๐ง๐ญ๐ซ๐๐ฅ ๐๐๐ง๐ค, is part of a national strategy to modernize digital banking and safeguard customers against rising cyber threats.
- ๐๐๐ฒ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง:
- ๐️ 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.
- ๐ฑ 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.
- ๐ Improved
Cyber Defense: The shift addresses vulnerabilities like SIM swapping
and phishing associated with traditional OTP channels, strengthening trust
between banks and authenticated devices.
- ๐️ Infrastructure
Modernization: This transition underscores the UAE’s commitment to
building a resilient financial ecosystem, in alignment with global best
practices.
- ๐ฅ 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
