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Banks spend considerable effort segmenting customers for products, communications, and risk. A mortgage customer is treated differently from a primary current account holder. A corporate treasurer has different needs from a retail savings customer. Yet when it comes to authentication, many banks still design around a single primary approach: mobile-first authentication.
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The European Digital Identity Wallet is expected to become an important part of the EU digital identity ecosystem over the coming years. As the eIDAS 2.0 framework evolves, banks and other regulated institutions are preparing for wallet-based identity, authentication, and credential exchange across digital services.
Authentication via SMS-OTP is considered outdated because of higher overall costs, low user convenience, and insufficient regulatory compliance in specific geographic regions, but primarily for practical security reasons.
Payment scenarios exempt from SCA requirements are generally determined by a transaction’s amount, recurrence, and the channel used to carry out the payment. Let’s take a more detailed look at each of these exemptions and their real-world applications.
In a continuation of our article series on Strong Customer Authentication (SCA), we’ll be examining the requirements for generating a core component of SCA requirements: authentication codes.
The introduction and implementation of SCA has made it clear that certain authentication factors no longer cut it in terms of security. Here’s how your business can benefit from embracing SCA requirements.
Let’s take a moment to think about each of the services that we, as consumers, carry out using a variety of mobile applications. Whether we’re purchasing something online or managing our personal finances, we turn to digital solutions that we access on our mobile devices. The adoption of mobile services isn’t going away anytime soon — in fact, it’s growing at a steady rate. Mobile devices (and the apps on them) have become a central part of our lives, and that’s a fact.
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We equip banks and fintech companies with a seamless, quantum-resistant digital identity solutions.
