What is PSD2?
The second Directive on Payment Services (PSD2), is in force in the European Union member states since September 2019.
It aims to make payments more secure and to strengthen the protection of consumers and businesses. It also promotes innovation by increasing competition between banks and payment institutions.
What are the main measures of this directive?
For security issues, the implementation of PSD2 at the end of 2019 led to the introduction of several new rules:
Strong authentication in Exabanque
Banks and payment management applications are now required to implement strong authentication for all sensitive operations: logging in, sending a payment, changing data, etc.
This type of authentication requires two of the following three factors:
- Information you know: password, PIN, secret question…
- Object that you own: mobile phone, connected watch, security card…
- Personal characteristic: fingerprint, voice and facial recognition…
The Exabanque software offers several strong authentication methods combining two factors to choose from. Customers can choose from the following factors:
- Biometrics (facial and digital recognition)
- FIDO USB key
- Login and password
- Authentication grid and security card
- Digital certificate
Exabanque complies with European security rules
The Exabanque software includes a multitude of security features (two-factor authentication, user authorizations, etc.) to comply with European requirements. But the application goes much further than the PSD2 recommendations in order to offer maximum security for payment management.
To find out more, visit our Security page.