Meet the requirements for strong customer authentication
The Revised Directive on Payment Services (PSD2) is more than a complex compliance project; it portends years of dynamic, highly disruptive market change.
Entersekt’s patented security product, Transakt, provides multi-factor, out-of-band authentication engineered specifically for the heavily regulated financial sector. It delivers a lot else too. Our approach to future-proof compliance can help you achieve business success under PSD2.
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Three steps for the path to success under PSD2
STEP 1: Meet your immediate PSD2 compliance obligations
Invest in a proven, scalable, interoperable, and well-documented strong customer authentication solution that eases auditing and reporting to regulatory authorities.
- Use push-based, phone-as-a-token multi-factor authentication to secure access to payment accounts, transactions, or exchange of any other sensitive data
- Register your customer’s mobile devices only afterpseudonymous digital certificates have been deployed to their mobile devices, so that only your organization is party to their identity
- Protect the confidentiality and integrity of user’s personal security credentials and ensure that only you and your customer know the details of the authentication request
- Digitally sign every authentication request and response for nonrepudiation and generate audit trails to help settle multi-stakeholder disputes
- Prove compliance quickly and decisively with technology that not only conforms to all major digital security regimes but is already used widely by banks and payment providers across Europe
STEP 2: Provide a winning user experience
A truly customer-centric authentication solution to PSD2 empowers your customers to transact anywhere, anytime, enhancing your trust relationship with each new interaction.
- Aim for a converged authentication solution spanning multiple use cases and providing a consistent experience across all channels, while saving on operational costs
- Push authentication requests to your customers’ mobile devices automatically and allow them to respond by simply tapping Accept or Reject
- Boost customer confidence and adoption with a low-friction, predictable means of approving payments and third-party access to accounts in real time
- Meet your consumer demand for on-the-go convenience using a solution built with mobile enablement top of mind
STEP 3: Capitalize on the opportunity
Act now to become the trusted keeper of consumers’ digital assets and change your strategic position relative to third-party payment service providers.
- Prioritize flexibility with a platform that covers the full authentication life cycle (roll-out, maintenance, recovery, off-boarding, and more)
- Avoid stopgap solutions at odds with international trends, out of step with adjacent regulatory frameworks like GDPR, or likely to fall foul of PSD3 in just a few years’ time
- Steer clear of one-time passwords, which are technically obsolete and deprecated by regulators in a fast-growing list of cases
- Establish a secure channel to the customer, so you can add innovative new digital services and retain existing customers and attract new ones
- Position yourself as the trusted keeper of your customers’ digital assets and change your strategic position relative to third-party payment service providers
PSD2 is no bolt from the blue. It’s simply another step in the escalating evolution of payments – and not the last one you’ll experience either.
Entersekt understands how to navigate this changing landscape. Pioneers in user-friendly phone-as-a-token authentication, our products are mature and widely deployed. Contact us today to see how we can help you be more compliant.
