Technology has progressed significantly from the time we first received our one-time passwords (OTPs) on our basic cell phones. Today, OTPs secure a wide variety of transactions, from placing orders for food and clothes to booking a cab and finalizing a payment. Digital banking has become ubiquitous, with banks offering customers 24*7 services with personalized and seamless mobile banking applications. However, advances in technology have led to a rapid rise in fraudulent activities, undermining the credibility of the banking ecosystem. |
