Pushpalanka's Blog

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 r...

Partners, mergers, legal entities, government entities, customers all need to work together in this era, while honoring the boundaries they should work within. This is with link to my previous post on challenges of future IAM requirements arising with increased interchangeability requirements between diversified parties. Challenges of Future IAM (concerned with Mergers , Acquisitions, Startups) -http://pushpalankajaya.blogspot.com/2017/07/challenges-of-future-iam-concerned-with.html Future of Identity and Access Management (IAM)- http://pushpalankajaya.blogspot.com/2017/07/future-of-identity-and-access.html This need is much more emphasized with the new regulations such as PSD2 in EU region that is putting foundation for Open Banking. While these standards define guidance for implementation interfaces,  End user authentication and authorization Third party authentication and authorization Identity mgt of internal staff,  has hidden needs of identity mediation. ...

Abbreviations Used with PSD2 Payment Services Directive 2 -   PSD2   Regulatory Technical Standard   ( RTS )   - A recommendation requested by PSD2 as a technical guideline to be compliant with PSD2  Strong Customer Authentication -   SCA   Payment Service User -   PSU   Account Servicing Payment Service Provider ( ASPSP ) - the existing banks Payment 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...

Following webinar recording I did being at 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/

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/