Banks in Europe May Accidentally Cut Out Users With New 2FA Requirement | Crypto Briefing
- Upcoming SCA regulations will require bank customers to verify themselves with 2FA during online banking.
- That means some banks will require users to own a smartphone.
- The regulations will take effect in the U.K. and European Union.
- By the end of 2020, European banks will enforce Strong Customer Authentication (SCA), a regulation that could require users to own a smartphone if they want to make use of online banking.
