3-D Secure with keystroke dynamics for PSD2 compliance

Integrating Strong Customer Authentication (SCA) within the popular 3-D Secure protocol for card-not-present (CNP) transactions is one of the key changes needed to be made for an open banking approach, as indicated by PSD2’s recent amendments. This blog post aims to provide an outline of the two ways card issuers, payment services providers, and merchants … Read more

Despite BFSI request for SCA delay, deploying keystroke dynamics is the right move amid COVID-19 cyber threats

What is PSD2 SCA? The new Payment Services Directive–PSD2—is designed to improve the current state of the European financial markets. It requires the banking and financial industry (BFSI) to adapt to technological advancements and proposes common standards across the EU.  PSD2 affects EU consumers’ access to banking data and payments in many ways. The provision … Read more

Banks, fintechs deal with increased cyber threats in the COVID-19 era 

As the Federal Reserve, International Monetary Fund (IMF) and European Central Bank (ECB) take precautionary measures to limit the impact of COVID-19 on the global economy, banks across the globe are seeing a rapid increase of cybersecurity threats. And, while the economic impacts of COVID-19 are likely to subside, these cyberthreats are here to stay. … Read more

User-friendly authentication for online payments

By 2021, 58% of the population will be online—connected to virtually everything, with banking and financial services at the top of the list. To cope with the noticeable growth in cybercrime, companies should use multi-factor authentication (MFA) or two-factor authentication (2FA) to protect online accounts.  Below, we explore how typing biometrics, a behavioral-based technology, can … Read more

Why banks should deploy keystroke dynamics authentication

Over the past few years, the banking and financial services industry has been put under increased scrutiny. Organizations that operate in this heavily regulated space are tasked with keeping up to date with the technological advancements of the decade and responding to the contemporary needs of clients—which include the use of modern security methods and … Read more

Intelligent authentication – a competitive advantage for challenger banks

Challenger banks can use intelligent authentication to comply with security requirements and develop a competitive advantage against modern as well as incumbent competitors by retaining great user experience. Regulations, such as PSD2 and GDPR, mandate financial institutions to prioritize the protection of customers’ money and data. To ensure regulatory compliance, banks must improve the security … Read more

PSD2: The new 3D Secure 2.0 

Through recent technology advancements, biometrics have become a part of everyday life and customer experience has laid the foundation for the latest consumer-centric financial products. PSD2 (Revised Payment Services Directive) sets up common standards across the EU and highlights the importance of security by enabling a safe open banking experience. Through these updates standards and protocols … Read more

PSD2: EBA’s Opinion on SCA elements as of June 2019

Last Updated – 16 October 2019 Fraud has been on the rise and account protection in many European countries has relied solely on traditional, overly forgotten password. Some regulators with more visionary security strategies have already been enforcing 2FA (two-factor authentication) to avoid fraud and impersonation and account spoofing in the financial sector. The new … Read more

EBA approves typing biometrics in SCA of PSD2

As of 21st of June 2019, The European Banking Authority has stipulated on what constitutes a compliant element in each of the three categories of multi-factor authentication: inherence, possession, and knowledge. The EBA approves typing biometrics as compliant to be used in multi-factor authentication. The inherence elements listed by EBA as acceptable are: keystroke dynamics … Read more