An opinion piece published by BusinessWorld examines the comparative security of biometric authentication methods—such as Face ID and thumbprints—against traditional PINs, in light of regulatory moves to phase out text-based one-time passwords (OTP) for financial transactions.
The author, writing from the perspective of a user with two phones—one using Face ID and PIN, another using a thumbprint and PIN—questions which combination offers greater safety and security. The piece notes that while biometrics provide convenience, they also introduce unique risks, such as the inability to change a compromised biometric identifier.
As regulators push banks to eliminate OTPs, the column underscores the need for a balanced approach that considers both usability and resilience against fraud. It does not reach a definitive conclusion but prompts readers to weigh the trade-offs between biometric and PIN‑based authentication.