Open Banking is here to stay – time to make that trouble free transition

Open Banking is here to stay – time to make that trouble free transition

The more popular mobile platforms become for money transactions the more important the security aspect becomes.

The new EU regulation PSD2 that recently has come into play requires stronger identity checks by the users themselves when they pay online. When customers access their online payment accounts, initiate electronic payment transactions, or perform other actions through remote channels, so-called strong authentication is required.

The users are actually not allowed to authenticate themselves with just one static password anymore. The transition from passwords to a combination of login codes and biometrics or tokens can be troublesome – and expensive – for banks and payment services, and this is where Covr is the ultimate solution!

The users are actually not allowed to authenticate themselves with just one static password anymore. The transition from passwords to a combination of login codes and biometrics or tokens can be troublesome – and expensive – for banks and payment services, and this is where Covr is the ultimate solution!