The European Banking Authority recently published the final draft Regulatory Technical Standards (RTS) for Strong Customer Authentication under the revised Payment Services Directive (PSD2).
Authentication has become a critical component in European legislators’ vision for a new retail payments market. Not only will it bring more harmonisation to the market, it will also provide more security and confidence to consumers.
Register for this on demand webinar by Finextra and Vasco along with a number of leading banking and payment service providers and gain business-critical insight into the changing marketplace.
There have been several EU initiatives designed to strengthen the security of electronic payments – starting from the ECB’s establishment of the SecuRe Pay Forum in 2011 to PSD2, an initiative designed to mitigate the alarming increase in card fraud. Successive attempts to further strengthen the payments process have culminated in the latest requirements.
This update will have a significant impact on the way banks and payment service providers (PSPs) identify and protect their customers. It will also ask serious questions of businesses in terms of their preparedness and readiness to comply with the changes.
While many of the requirements may be standard practice for online banking services, there may be some challenges for payment service providers, e-commerce merchants and their check out processes. Furthermore, existing authentication methods involving multiple and independent devices and apps, may no longer be compliant.
It is therefore critical that businesses know exactly what they must do to fully comply with the changes.
The webcast will feature insights from the EBA, leading banks and payment service providers, market analysts and VASCO executives, all designed to address the key concerns of businesses:
- what are the RTS requirements for strong customer authentication?
- when do the new rules take effect?
- how will the new rules be enforced?
- are there still issues under consideration by the authorities?
- what current solutions meet these requirements?
- How can I reduce fraud through risk analysis?
- Frederik Mennes, Senior Manager Market & Security Strategy, Vasco
- Alexander Kuznetsov, Business Solutions Manager Mobile & Cronto, Vasco
- Rich Wagner, CEO, APS Financial
- Gareth Lodge, Senior Analyst, Celent
- Valentin Stalf, Founder & CEO, N26
Join Finextra, VASCO and a number of leading banking and payment service providers to participate in the debate - and gain business-critical insights into the changing marketplace for payment services and customer authentication.