One-Time Password (OTP)
Overview
A One-Time Password (OTP) is a temporary, unique code used for user authentication during logins or transactions. OTPs are typically delivered via SMS, email, or mobile apps, and expire after a short duration. They enhance security by ensuring that even if a password is stolen, an attacker cannot gain access without the OTP.Regulators often mandate OTPs as part of multi-factor authentication (MFA) requirements for payments and digital banking. Banks, fintechs, and e-commerce platforms rely on OTPs to secure accounts and prevent fraud. While effective, OTPs can be vulnerable to SIM swap or phishing attacks, which is why they are often paired with stronger authentication methods.
Stay ahead of risk with Signzy
Explore tools that help you onboard, monitor, and verify with confidence
One Touch KYC
Simplify the Know Your Customer (KYC) process with AI and sophisticated fraud detection algorithms to provide a seamless, efficient, and highly secure user verification.
Biometric Verification
Authenticate users securely using facial, fingerprint, or liveness biometrics powered by AI. Prevent identity spoofing and stay compliant.
Database Verification
Verify user information instantly by connecting to trusted databases across jurisdictions. Ensure accuracy, compliance, and faster onboarding with real-time data checks.
