Two-factor authentication options in banks

Many banks do not offer two-factor authentication options beyond SMS and phone calls, which are considered less secure. This could be due to the use of legacy technology and a slower adoption of modern security practices. However, banks generally have strong security measures on the back end, even if user-facing security is not as robust. Banks may prioritize protecting their own financial losses over user privacy due to insurance coverage. Some banks do offer more secure options like software-based TOTP and hardware keys, but they may require customers to request them.