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). According to BSP Deputy Governor Elmore Capule, the June 2026 compliance deadline will remain in place. 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 "List of Extended Deadlines for Government Agency Filings".
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Jul 14, 2026Bangko 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). According to BSP Deputy Governor Elmore Capule, the June 2026 compliance deadline will remain in place.
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.
Our coverage of BSP OTP deadline includes: "BSP sets June 30 deadline for banks to move beyond SMS OTPs"; "List of Extended Deadlines for Government Agency Filings"; "BSP launches InstaPay". Each article provides unique insights and information.