#biometric authentication PH banks

Bangko Sentral ng Pilipinas has set June 30, 2026 as the deadline for banks to strengthen authentication systems and reduce reliance on SMS one-time passwords (OTPs). Under the proposed regulations, banks will be required to adopt stronger authentication methods, particularly for high-value online transactions and sensitive account changes. These may include biometric authentication, device-based credentials, and other phishing-resistant multi-factor verification systems. In addition to stronger authentication, banks must also deploy fraud management systems capable of detecting suspicious transactions in real time. The BSP is encouraging banks to move toward server-side biometric verification, where identity checks using fingerprints or facial recognition are validated through secure bank servers rather than relying solely on a user’s device. While OTPs may still be used in certain cases such as verifying mobile number ownership, the central bank said banks must gradually shift toward stronger authentication methods before the June 30 compliance deadline. Read more in our articles including "BSP sets June 30 deadline for banks to move beyond SMS OTPs" and "Eight Power Banks for Your Laptops That You Can Buy".