Authentication

Payment Services Directive (PSD2)

PSD2 and open banking create fierce new competition. Fintechs, social media companies and telcos want to leverage your customer data when (by law) it becomes available. The good news: 67% of consumers prefer sticking with banks over third parties for managing money. This is a great opportunity for your bank. We have the trusted identity tools you need to be successful.

Providing Your Customers with Trusted Identities

In this environment, becoming an Account Information Service Provider (AISPs) or Payment Initiation Service Provider (PISPs) is vital, because owning customer relationships is the new path to profitability. The key is being first to provide trusted identities customers need to conduct secure transactions. Our Authentication platform makes it easy to provide those trusted identities.

Entrust Datacard Authentication

Time to Choose Your Place in the Open Banking Ecosystem

While there are some things that simply require compliance (making data available and delivering on SCA), banks looking to capitalize on PSD2 and open banking must decide how to position themselves in the market to offer a comprehensive solution to their customers. These are three of the options. Each requires trusted identity:

Hex

Become A Banking Utility

Focus on providing liquidity, credit services and infrastructure. Most services would be offered through third parties who own the customer relationship. Requires only basic PSD2 compliance.
Hex

Partnership Model

Develop an advanced API model that allows you to directly provide selected services to consumers — and offer others through third-party partnerships. You could offer enough services to "own" relationships. This requires compliance, plus monetized access to selected customer data.
Hex

Comprehensive Offering

Offer consumers a full range of financial services under your brand. This may require some private labeling of third-party offerings. But you can clearly own the consumer relationship. This requires compliance, open APIs and development or re-selling of a broad portfolio of services.

How Your Bank Can Captilize on PSD2

  • Strong Customer Authentication (SCA)
  • Secure Communications (SC)
  • PSD2 and GDPR Guidelines

Strong Customer Authentication (SCA)

A Foundation for PSD2 Compliance.

A key PSD2 requirement is Strong Customer Authentication (SCA). Because usernames and passwords don't provide sufficient security, the new directive calls for two-factor authentication for all electronic transactions. Our authentication solutions help you enable your PSD2 requirements – and they ensure a transparent and frictionless user experience.

Below are the key elements required to create strong customer authentication.

Two-Factor Authentication (2FA)

The use of two independent authentication methods is mandated. If one of the methods involves a smart phone or other mobile device, security measures are required to ensure that the device being used has not been compromised. Entrust Datacard offers the widest range of authenticators, so you can offer your customers the one that that works best for them.

Transaction Monitoring & Fraud Protection

PSD2 mentions the need for transaction monitoring software that analyzes risk as transactions are taking place. Our solutions — including Entrust™ Transaction Guard — enable fraud prevention tools with adaptive capabilities. Factors such as payment amounts, known fraud scenarios, payer/payee locations and device reputation are used to allow, challenge or stop transactions.

Dynamic Linking

Hackers have learned to insert themselves into the middle of legitimate electronic transactions after they’ve been initiated — which has created the need for dynamic linking. Entrust Datacard solutions link authentication codes to specific transaction amounts and payees. If either the amount or the payee changes during a transaction, a new code is issued. Our solution — which can feature OTP codes, mobile push notifications or other authenticators — also provides highly secure transactions.

Runtime Application Self-Protection (RASP)

The proliferation of mobile payment apps creates new opportunities for hackers. RASP is a suggested protocol for detecting anomalous app behavior and blocking the app from executing any further operations. Our RASP solution hardens the mobile app code and allows it to defend itself at runtime. This safeguards against hacking and reverse engineering. Also, with our Entrust IdentityGuard client-side software, the apps or SDKs act only on requests from the server. If a fraudulent entity tries to fool the app into signing a transaction, the transaction verification fails.

Request a Demo

Request a demo with an IntelliTrust authentication platform specialist.

Our Products

Cloud-Based Deployment

IntelliTrust™

Secure your enterprise and give your users secure access to everything — applications, networks, computers, doors — with cloud-based multi-factor authentication.

On-Premises Deployment

IdentityGuard™

Experienced security professionals in corporations, banks and government agencies know the name IdentityGuard and trust it to protect and enable what matters to them.

SMS Passcode™

SMS Passcode authenticates users by sending a real-time, session-specific one-time passcode (OTP) to the user’s mobile phone via SMS, app, voice-call or email.