The Second Payment Services Directive (PSD2) mandates banks across the European Union to add two-factor Strong Customer Authentication (SCA) and Strong Customer Identity Verification (SCeID) on all remote access to customer accounts.
Both SCA and SCeID are mandated by PSD2, although the latter is not well understood. And failure to implement these capabilities exposes banks to penalties up to 2% of global annual turnover under GDPR.
The aim of this webinar is to examine the links between SCeID and SCA in the context of PSD2 and GDPR, sharing insight into how legislation mandates regulated firms to digitally verify customer identity and what technology helps to achieve this objective.
This Finovate webinar, in association with Jumio, hears from Jumio, Consult Hyperion and leading FinTech businesses to discuss the challenges – and opportunities – of SCA and SCeID. During an interactive panel discussion, the speakers will address a number of key questions, including:
- How are SCeID and SCA connected?
- How are the various regulatory mandates which require secure authentication and verification, such as PSD2 and GDPR, similar, and how do they differ?
- What are the pitfalls to avoid when implementing SCeID and SCA?
- Why does the reset process become so critical – and how can banks make sure they have robust protections in place around reset?
- What technology solutions can banks leverage to meet their obligations around security and identification?