Infographic: Identification in the age of PSD2

Callsign

Tags:

PSD2 | Biometrics | Strong Customer Authentication (SCA) | Banking & Finance

2018 may be the year of GDPR.... but it's also the year of PSD2
Earlier this year GDPR came into effect, and it was the most important data privacy law we've ever seen. But it wasn't the only major regulatory change to impact financial businesses this year, there's also the PSD2 (revised Payment Services Directive), an updated regulation that came into effect in January. It requires banks to share raw account data with third-party providers, based on customer permissions and open up APIs allowing those third-parties to initiate payment transactions on behalf of the customer. 

A key factor of PSD2 is its requirement for a strong authentication process whenever a payment is initiated or remote account access is requested, which is what's known in the directive as Strong Customer Authentication (SCA). 

GDPR is about tighter data protection. PSD2 is part of an open banking movement. But it’s the combination of both that could be keeping you up at night if you’re in the financial industry.

We take a look at the impact PSD2 is having on identification and the challenges of Strong Customer Authentication on the financial industry. 

Click the image below to enlarge

identification-in-the-age-of-psd2-infographic


Want to know more?

psd2-whitepaper-promo-close-up-swipe-southfields-350x200 woman-authenticating-with-fingerprint-630x420 callsign-datasheet-on-a-desk

Download our whitepaper - From PSD2 To Digital Identity

Blog: Don’t settle for average when it comes to PSD2 regulation Find out more about our capabilities here


Tell a friend or colleague: