Financial services are faced with fundamental challenges in modern user authentication. Online transactions are continuously at risk. To keep the trust of the customer and combat fraud, financial services must keep their security up to date and find new solutions for the outdated technology used on mobile devices. At the same time, a good user experience is essential. There can’t be a trade-off between usability and security.
Selected blog posts
To reduce fraud in electronic payments, Strong Customer Authentication (SCA) is becoming the norm. This three-part series goes deeper into how to do proper Strong Autentication on mobile devices and which classical approaches are definitely not compliant.
Learn what goes on underneath the user interface of most authenticator apps. Far too often these are based on weak One Time Passwords (OTPs). OTPs are an outdated way of authenticating users and can be a serious liability for your IT security.
With the Payment Services Directive 2 (PSD2), the EU aims to reduce the risk of fraud in electronic payment services. Towards this goal it mandates the adoption of Strong Customer Authentication (SCA). The European Banking Authority’s (EBA) wrote the Regulatory Technical Standard (RTS) for SCA. This document describes how nextAuth meets the relevant requirements.