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OTP Policy

Purpose

This One-Time Password (OTP) policy governs the generation, use, and security of OTPs for authentication purposes in OwlX Fintech Solutions Pvt Ltd’s systems. The policy aims to ensure secure access to services and protect sensitive data during user interactions.

2. Scope

This policy applies to all users, employees, partners, and third-party services interacting with OwlX Fintech Solutions Pvt Ltd’s platforms. OTPs are required for certain transactions, account logins, and activities requiring verification.

3. OTP Generation and Delivery

  • OTPs are automatically generated and sent to the registered contact details (phone number or email) provided by the user during sign-up or account creation.
  • The OTP is valid for a limited time of 10 minutes, after which it expires and a new OTP must be requested.
  • Each OTP is a unique, randomly generated code consisting of 6 alphanumeric characters to ensure security.

4. Usage of OTP

  • OTPs are required to complete specific high-security actions, such as financial transactions, password resets, and changes to account details.
  • Users must not share their OTPs with anyone. OwlX Fintech Solutions Pvt Ltd will never ask users to disclose their OTPs.
  • An OTP can only be used once for the specific action it was generated for.

5. Security Measures

  • OTPs are encrypted during transmission using industry-standard encryption methods to protect the code from interception or unauthorized access.
  • If an incorrect OTP is entered more than 5 times, the user account may be temporarily locked to prevent unauthorized access. The user will be required to follow account recovery steps to regain access.

6. User Responsibilities

  • Users must ensure that their contact details (phone number and email) are up-to-date to receive OTPs.
  • Users are responsible for maintaining the confidentiality of their OTPs and ensuring that their devices are secure.
  • In case of unauthorized access, users should immediately notify OwlX Fintech Solutions Pvt Ltd for assistance.

7. Support

For any issues related to OTPs or account access, users can contact OwlX Fintech Solutions Pvt Ltd at the following details:
Email: owlxfintech@gmail.com
Phone: 9606949055
Website: https://owlxfintech.com/