Beyond PSD2 for a Better Open Banking Expereince

PSD2 is acting as a catalyst in the digital transformation happening in the Banking industry. While meeting the compliance requirements of PSD2, financial institutes are excited to make use of the new business models and opportunities opened by this laid foundation. More the customers and partners we can reach, more the business activities and more the revenue. Making the banking functions more accessible and reactive will be a key enabler to provide a seamless experience to these parties, including internal banking staff whom directly affects the business efficiency.
IAM plays a critical role in improving business accessibility without compromising the system boundaries. PSD2 mandates strong customer authentication(SCA), setting the bar high for user authenticity, while keeping few exemptions, not to bother payment services user(PSU) with SCA for every little transactions. While adhering to this policy will make an institute PSD2 complaint, if they can react fast to the fraud rates…

Building a Fool Proof Security Strategy for PSD2 Compliance

Following are the slides I used in a webinar by WSO2 to look at the IAM and overall security aspects of a fully PSD2 Complaint Solution. While it lists down the basic requirements to be PSD2 complaint, it also explains the requirements that are not visible out in the surface, but very valuable in building a comprehensive and robust solution that will have a long term vision while being PSD2 complaint as per the urgent need.

Comments

  1. This comment has been removed by a blog administrator.

    ReplyDelete

Post a Comment

Popular posts from this blog

Signing SOAP Messages - Generation of Enveloped XML Signatures

How to send an HTML email in Java (Using Google SMTP Server)

How to convert WSDL to Java