USE CASE

PSD2 TRA & SCA Compliance

Ensure compliance with the most demanding digital banking regulation

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Challenge

The new payments service directive, which was adopted by the EU parliament in October 2015 came into force by September 2019, set out to enhance three major areas in the payment landscape: customer protection, innovation, and security.

Security is being supplemented mainly by the Regulatory Technical Standards (RTS) on strong customer authentication (SCA) and common and secure open standards of communication (CSC).

The main objectives are:

  • Strong Customer Authentication
  • Transaction and Device Monitoring
  • Provision of standardized and secure interface for access to payment accounts (e. g. API)

With PSD2 Payment service providers are required to perform strong customer authentication for any action connected with a payment’s account. The authentication shall be based at least on two elements, categorized as knowledge, possession, and inherence, resulting in the generation of an authentication code.

As a result, payment service providers are now facing a dilemma between providing secure authentication and not jeopardizing the customer’s experience.

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The ThreatMark Solution

ThreatMark’s solution has been developed with PSD2 in mind by security practitioners with extensive knowledge of banking systems security and can solve the most demanding security requirements set out by the regulation.

ThreatMark’s complete threat and fraud detection system which by design is ready to address the transaction monitoring and transaction risk analysis requirements of the RTS along with protecting the integrity of the authentication/authorization portal a bank can use to perform an SCA of a request initiating from a third-party provider.

ThreatMark analyzes users at every step of their online journey. From banking login to transactions – our solution continuously and seamlessly verifies user’s identities and intentions through behavioral biometrics, session parameters, transaction details, and complex interactions across all digital channels.

ThreatMark PSD2 TRA & SCA Compliance

This knowledge allows us to create completely trusted user identities. 

Based on them, ThreatMark precisely detects all related anomalies, identifies threats, prevents fraud—and ensures PSD2 compliance.

How we helped our customers

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How our AI Powered Authentication enhanced security & User Experience for Slovenská sporiteľňa [ERSTE Group]

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Related Resources

ThreatMark AFS Datasheet

Digest the core details of our technology and review our unique approach in this  datasheet. 

ThreatMark & PSD2 Whitepaper

ThreatMark helps banks be PSD2 compliant by using advanced threat detection and behavioral biometrics technology. 

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