Strong Customer Authentication Solutions

  If you are not yet using strong customer authentication solutions in your business, you should consider implementing them. Strong authentication is not simply a compliance exercise. It can also be a driver for innovation Strong customer authentication requires two factor authentication and dynamic linking to make sure that the consumer is fully informed and makes an active decision to authorize a payment transaction. In other words, to be able to successfully process a payment under the new rules, banks are supposed to ask the customer for at least two authentication factors - for instance, a PIN or password entered on their mobile device would constitute two factors, namely knowledge and possession. Despite the business opportunities PSD2 has opened, the adoption of strong customer authentication and FIDO2 biometric authentication has been slower than the European authorities would have preferred. This is because implementing strong authentication requires well designed user e...

  If you have never considered using strong customer authentication solutions in your business, you should consider doing so. Strong authentication is a way of safely and reliably confirming the identity of a user. Multi-factor authentication is one of the best options that you can use to establish trust with users, but actual strong authentication goes beyond multifactor authentication or two-factor authentication. So, what exactly does strong authentication solutions do? These solutions confirm user identity reliably and safely, never solely based on shared secrets or symmetric keys like passwords, codes, and recovery questions. FIDO2 biometric authentication assumes credential phishing and impersonation attacks are inevitable and robustly repels them. Even though multi-factor authentication is without doubt among the best ways to establish who trusted users are, actual strong authentication goes beyond either 2FA or MFA. When implementing MFA, at a minimum, you need to follow ...