Rizal Commercial Banking Corporation (RCBC) is preparing to roll out an OTP-less mobile banking system designed to strengthen digital security and reduce online fraud — part of its wider cybersecurity and innovation roadmap aligned with the Department of Information and Communications Technology’s (DICT) vision of a “scam-free Christmas.”
The announcement was made during the RCBC × Meridian launch event on November 7, 2025, where officials confirmed that OTP-less authentication will be introduced across RCBC’s mobile platforms beginning January 2026.
DICT’s “scam-free Christmas” campaign, meanwhile, seeks to curb financial scams during the 2025 holiday season through improved banking security and stronger cooperation between government and private institutions.
Eliminating a major fraud risk
RCBC executives said the OTP-less model aims to protect customers from phishing and SIM-swap attacks that frequently exploit one-time passwords (OTPs) sent through SMS.
“The most number of cyber fraud incidents [in the Philippines] involve OTPs,” RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva said during the event. “We’re eliminating that risk by verifying users inside the app itself.”
Instead of relying on codes sent via text, RCBC’s new system will use in-app confirmations, device binding, and biometric verification, allowing all authentication steps to happen securely within the app.
RCBC noted that some OTP-less processes are already active in select transactions. The full shift to an OTP-free system will be rolled out gradually, beginning with the RCBC Pulz App, its flagship digital banking platform.
“We will be experiencing an OTP-less interface with mobile apps of RCBC starting in January,” Villanueva added.
DICT pushes for a ‘scam-free Christmas’
DICT Secretary Henry Aguda, who joined the launch event, underscored the government’s campaign to reduce online fraud and protect consumers this Christmas season through better banking security and telecom modernization.
“This Christmas, financial scams will disappear,” Aguda said, describing the DICT’s goal of a scam-free Christmas achieved through tighter public–private collaboration.
Aguda explained that the phaseout of 2G and 3G networks, which have long been exploited for fraudulent activity, is already underway.
“2G and 3G have been the playground of fraudsters for so long,” he said. “When we move fully to 4G and 5G, these vulnerabilities will disappear.”
He added that these efforts align with the government’s three digital pillars — cybersecurity, connectivity, and innovation — under the National Digital Transformation Strategy.
Public–private cooperation against cyber fraud
RCBC officials said the bank’s OTP-less initiative supports the DICT’s call for industry collaboration to improve digital safety.
“We meet with Smart Group in regards to sunsetting 2G and 3G because these two have become the tools of fraudsters,” Aguda said. “This is our commitment — promoting consumer protection through public–private cooperation.”
Aguda also noted during the event that RCBC is among the first movers in implementing OTP-less verification in Philippine banking.
“Like what Lito [Villanueva] said earlier, banking institutions will move to a more secure platform without an OTP,” Aguda said. “I think Smart was the first one to launch it, and I’m glad RCBC is again one of the first movers in that area,” Aguda added.
Part of RCBC’s broader digital transformation
The OTP-less rollout is part of RCBC’s ongoing push to modernize its digital services.
As of November 11, the bank also launched the RCBC Pulz App U.S. Virtual Account in partnership with Meridian Payments, allowing Filipinos to open and manage a U.S. bank account without a U.S. address, Social Security Number, or residency requirement — a first in Philippine banking.
Both initiatives — one focused on security, the other on cross-border access — reflect RCBC’s commitment to make digital banking more inclusive, seamless, and secure for Filipinos everywhere.
Bank officials said continued investment in cybersecurity, network resilience, and financial education will remain priorities as the bank works alongside government and telcos to fight online fraud.
“This Christmas, financial scams will disappear,” Aguda said, emphasizing the DICT’s goal of a scam-free holiday season through stronger collaboration with banks and telcos.
