Benefits of the OTP system:

• Fraud blocking: The OTP authentication offers several advantages over the exclusive use of static passwords. Due to their unique use nature, “OTPs” tokens have the potential to protect for example access, that even in case of a fraudster capturing a password, it´s not possible, they cannot reuse it in a second attempt. A user who was the victim of a phishing or malware scam that captures the typed keys would still be protected. The information would remain protected from conventional password theft methods.
• Robot Blocking: This system is also very useful in blocking robots that generate automatic profiles and perform persistence tests to circumvent the validation of tests such as CAPTCHA (“Completely Automated Public Turing test to tell Computers and Humans Apart”).
• Tokens – personal codes: Another advantage is that the codes are unique and become invalid within minutes, which prevents attackers from obtaining the secret codes and reusing them. OTP tokens are also often generated with random algorithms. This guarantees the authenticity of the user, increases the efficiency of transactions and prevents theft attempts.
• Two-factor authentication system – 2FA: This type of two-factor authentication, as the name itself indicates, requires two forms of authentication, i.e. two forms of validation for the user to access an online account. These two factors usually include a password (previously defined by the user) and another code sent to the user – OTP, which is generated automatically to reinforce security and is personal and temporary in nature.