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Regulatory Technical Standard (RTS) for PSD2 in Plain Text

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Abbreviations Used with PSD2Payment Services Directive 2 -PSD2Regulatory Technical Standard(RTS)- A recommendation requested by PSD2 as a technical guideline to be compliant with PSD2 Strong Customer Authentication -SCAPayment Service User -PSUAccount Servicing Payment Service Provider (ASPSP) - the existing banksPayment Initiation Service Provider (PISP) - a third party entity or a bank itself that can initiate the payment process Account Information Service Provider (AISP) - a third party or a bank itself which can retrieve PSU's account information may be to show an aggregate view of all accounts. Payment Service Providers issuing card- based payment instruments (PSP) - payment service providers that existed in pre PSD2 era who are doing payments through card networks like VISA or Mastercard. Sometime this is also used to refer all PSPs including PISP and AISP.Common and Secure Communication (CSC) Third Party Payment Service Providers (TPP)Access to accounts - XS2A When addres…

The Role of IAM in Open Banking

This presentation discusses on PSD2 standards in detail with the PISP and AISP flows, the technologies involved around the standard and finally how it can be adopted for Sri Lankan financial market.

Challenges of Future IAM (concerned with Mergers , Acquisitions, Startups)

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When the companies bring in external users to work within the enterprise activities, via mergers, acquisitions, outsourcing and allowing end users come via social login, a problem is raised due to the variety of protocols each of these external parties may use for identity management. Most of the time these external parties would not agree to share their user base with sensitive information of the users, which is a major asset of them. In this case identity federation or cross domain authentication comes into provide a solution to this problem. There are identity federation protocols that have evolved with the time mainly OpenID, SAML, WS-Federation and OpenID connect to address the requirement of federated authentication. Even though these protocols have been able to cater for it, while the acquisitions and merges grows up in numbers the solutions still suffers from two major limitations, namely[1], Federation Silos

When there is federation requirement, organizations would choose on…

Future of Identity and Access Management (IAM)

When a business needs a rapid growth or a new technology integrated, partnering and acquiring strategies are commonly put forward. WhatsApp been acquired by Facebook, Skype been acquired by Microsoft are such popular acquisitions done by the giants in the industry. According to the Wall Street Journal “2015 the biggest year ever for mergers and acquisitions” globally[1]. When this is considered from the aspects of enterprise identity management, it means the rapid merge of external users to current enterprise system. While this merge needs to happen rapidly in order to take the competitive advantage, privacy and security aspects cannot be ignored. Quocirca which is a primary research and analysis company also confirms that “many businesses now have more external users than internal ones. Many organisations are putting in place advanced identity and access management tools to facilitate the administration and security issues raised by this.”[2]. 
The impact of these merges and acquisi…

Worth of Bitcoins

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Bitcoins seems to be an interesting subject and is been taking the hype recently.

If we look at the value of a Bitcoin over the range of years, at 2015 it was worth $250 and now it is going beyond value of $2500 at the moment. This is capable of attracting more people towards it. We will proceed with more posts to understand Bitcoins, how to use it and any useful information for anyone interested in moving forward with Bitcoins, which I think is the currency of the future.

Following captured from coinbase.com on 8th June 2017 shows the value deviation of bitcoin from it's very start.



Source : https://www.coinbase.com

[WSO2 Article] Frictionless Adoption of Payment Services Directive 2 (PSD2) with WSO2

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Following webinar recording from WSO2 discusses in detail on the security implications of PSD2, the available technical standards around the recommendations and what WSO2 products are in-line to cater for those.


 Source : http://wso2.com/library/webinars/2017/04/frictionless-adoption-of-payment-services-directive-with-wso2/

The detailed article can be found at : http://wso2.com/library/articles/2017/05/frictionless-adoption-of-the-security-recommendations-for-the-payment-services-directive-2-psd2-with-wso2/

Adaption of PSD2

European Union has enforced Payment Service Directive version 2 (PSD2) for the Payment Service Providers to adapt by the year 2018. Following slide-deck discusses the

PSD2 background PSD2 effects on the business domain Security implications of the directive What technologies, standards are available to meet the requirements How WSO2 products can support to adapt PSD2

Frictionless Adaption of PSD2 with WSO2 from Pushpalanka Jayawardhana

The whole webinar based on the slides is can be found at [1].

[1] - http://wso2.com/library/webinars/2017/04/frictionless-adoption-of-payment-services-directive-with-wso2/