What are the security features of OTP SMS services for BFSI companies? sms2orbit
In the banking, financial services and insurance (BFSI) sector, security is paramount. OTP (One-Time Password) SMS services have become an essential tool for ensuring safe and seamless digital interaction. Below are some of the key security features of OTP SMS services that make them indispensable for BFSI companies: 1. Time-limited validity OTP codes are only valid for a short time, thus minimizing the risk of unauthorized access. This ensures that even if someone captures the OTP, they cannot use it once it expires. 2. Dynamic and non-reusable codes Each one-time password is unique and dynamically generated for one transaction or session. Once used, the OTP becomes invalid, preventing attackers from re-using it for fraudulent purposes. 3. End-to-End encryption Messages containing the OTP are transmitted over secure and encrypted networks, ensuring that they cannot be intercepted or altered during delivery. This protects sensitive information from cyber threats. 4. Two-factor authen...