Regulations / Singapore
Singapore: OTP login phase-out for customers with digital tokens
Answer MAS and the Association of Banks in Singapore: OTP login phase-out for customers with digital tokens. Timing: From Jul 2024. Status on Telemetry's board: in force (verified 2026-09-24).
RRecord
- Market
- Singapore
- Regulator
- MAS and the Association of Banks in Singapore
- Measure
- OTP login phase-out for customers with digital tokens
- Timing
- From Jul 2024
- Status
- In force
- Verified
- 2026-09-24
ERegulator and standards
Monetary Authority of Singapore Central bank
Singapore's central bank and financial regulator. In July 2024 it announced, with the Association of Banks in Singapore, that banks would phase out OTPs for customers using digital tokens.
- Jurisdiction
- Singapore
BBriefings
Singapore banks to phase out OTPs for customers with digital tokens
In July 2024 the Monetary Authority of Singapore and the Association of Banks in Singapore announced that major retail banks would phase out one-time passcodes for bank account logins by customers who have digital tokens activated on their mobile devices.
MOther markets
- UAE Complete
- Philippines In force
- India In force
- Malaysia In force
- European Union Pending
- United States Guidance