Here we provide a short overview of why strong authentication is seriously needed to provide security for mobile banking and payment applications.
Here we provide a short overview of why strong authentication is seriously needed to provide security for mobile banking and payment applications.
Markets hate uncertainty, and the confusion regarding issues related to Britain’s exit from the European Union has roiled equity and currency markets. But it’s not just the financial markets that are affected- companies that rely upon EU regulations to conduct their day-to-day business are also reeling from this uncertainty.
Cryptographic algorithms can be categorized into three classes: hash functions, symmetric, and asymmetric algorithms. This article sheds light on their differences, purposes, and main fields of application.
Financial institutions and solution providers are busy implementing the requirements of Strong Customer Authentication (SCA) under the Revised Payment Services Directive (PSD2) and the Regulatory Technical Standards (RTS).
A fundamental objective of the Revised Payment Services Directive (PSD2) has been to reduce the risk of fraud to the maximum extent possible and ensuring security for electronic payment transactions.
The EU has launched a number of initiatives to realize the aim of creating a unified Digital Single Market. The Connecting Europe Facility (CEF) is a funding instrument that provides the primary thrust for this initiative. The CEF uses certain underlying building blocks (known as Digital Service Infrastructures) to achieve this objective of providing an interconnected and unified marketplace.
PSD2 breaks up the ways in which banks do their business, by forcing them to open up their APIs. By doing so, PSD2 challenges the way in which data was traditionally secured in banks.
The eIDAS Regulation lays the groundwork for creating a robust digital identity framework. The idea is to provide EU citizens with a secure, robust and universal electronic identification that they can use to access private and public services anywhere within the EU.
One sector that is lapping up the new opportunities that eIDAS offers is banking.
Last November saw the adoption of the Delegated Regulation on Regulatory Technical Standards (RTS) by the European Commission. The objective of this regulation is to provide for Strong Customer Authentication (SCA) and establish secure channels of communications.
