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Axis Bank Rolls Out 'In-App Mobile OTP' Feature to Strengthen Cybersecurity Measures.

Banking & Finance | Dated: 09 Apr 2025

In April 2025, Mumbai (Maharashtra)-based Axis Bank Limited launched a new security feature called 'In-App Mobile OTP' on its Open mobile banking platform, aimed at addressing OTP-related frauds such as Subscriber Identity Module (SIM) swap and phishing attacks.

🎯 Key Highlights:

  • - This feature replaces traditional SMS-based One-Time Passwords (OTPs) with more secure Time-based One-Time Passwords (TOTP) that are generated directly within the mobile banking app.

💡 Other Important Facts:

  • (i) The primary objective of this innovation is to combat growing cyber threats related to SMS-based OTPs. By generating OTPs on the user’s device, Axis Bank offers a device-bound, time-sensitive solution that enhances protection against cyber fraud.
  • (ii) The Mobile OTP feature allows users to log in to internet banking and authenticate transactions securely. It is accessible globally via internet, making it especially useful for seafarers, international travelers, and Non-Resident Indians (NRIs) who face OTP delivery issues while abroad.
  • (iii) The bank has also introduced instant alerts for login and transaction attempts, giving customers real-time visibility and greater control over their account activities.

📚 Test Your Knowledge:

Which bank recently introduced the 'In-App Mobile OTP' feature to enhance cybersecurity?

Correct Answer: Axis Bank

🚀 Quick Recap:

About Axis Bank

  • CEO : Amitabh Chaudhry
  • Headquarter : Mumbai