Odeabank integrated the OneSpan Mobile Security Suite SDK with its mobile banking app, about two years after entering Turkey in 2012.
Odeabank | Software Authentication for Mobile Banking ↗
What happened
- Odeabank expanded its software authentication licenses more than five-fold in 2020.
- Turkey's Regulation on Information Systems of Banks and Electronic Banking Services entered into force on 1 July 2020, and banks cannot send an OTP via SMS to authorize transactions.
- The bank states that Turkish regulation prohibits sending OTPs via SMS to authorize transactions.
Why it matters to Signicat
- Customer case study from a competitor on app-based OTP as SMS OTP replacement; relevant to Signicat's authentication and Turkish-market positioning only indirectly, as Signicat's core markets do not include Turkey.
Evidence from the source (4 quotes)
- “In 2020, Odeabank expanded the number of software authentication licenses more than five-fold.” source ↗
- “Turkey’s Regulation on Information Systems of Banks and Electronic Banking Services entered into force on 1 July 2020.” source ↗
- “Banks cannot send an OTP via SMS to authorize any transactions during the session or use it as an authentication element.” source ↗
- “Expand the use of one-time passcodes (OTP) delivered by push notification – instead of SMS” source ↗
Authentication passwordlessCase studyGlobal
4 of 4 facts verified against the source · confidence medium · claude-haiku-5-5