Complying With PSD2: Everything You Need to Know
- LANGUAGE: English DATE: Tuesday, October 29, 2019 TIME: 4:00pm CET, 11:00am EDT, 8:00am PDT
With the Revised Payment Service Directive (PSD2) coming into full effect this fall, banks and online retailers need to adapt to changes that carry with them many regulatory and technical challenges. Acknowledging these extensive changes, Germany’s Federal Financial Supervisory Authority (BaFin) recently granted a period of grace for online retailers to implement the element of strong customer authentication (SCA), thus following the lead of other European financial regulatory authorities.
The requirement for strong customer authentication (SCA) is only one important part of PSD2. Other regulations, such as GDPR, may intersect with PSD2. In order to comply with the requirements of security and privacy it is important to be familiar with the latest trends in authentication and how innovations in authenticator technology can help meet these challenges.
In this KuppingerCole webinar you will learn about:
- PSD2 and its technical requirements for SCA
- How other European regulations intersect with PSD2
- What actions need to be taken to comply with regulations
- Latest trends in authentication and how they help you to meet current challenges
In the first part of the webinar, KuppingerCole Lead Analyst John Tolbert will give an overview of the challenges of regulatory compliance of PSD2 and the element of SCA and how other European regulations such as GDPR make PSD2 implementations more difficult.
In the second part, he will be joined by Alain Martin, co-chair of the FIDO Europe Working Group and Head of Consulting and Industry Relations at Thales, who will explain how trends in innovation help in dealing with challenges of regulatory compliance.
The FIDO (Fast IDentity Online) Alliance is a 501(c)6 non-profit organization nominally formed in July 2012 to address the lack of interoperability among strong authentication devices as well as the problems users face with creating and remembering multiple usernames and passwords. The FIDO Alliance plans to change the nature of authentication by developing specifications that define an open, scalable, interoperable set of mechanisms that supplant reliance on passwords to securely authenticate users of online services. This new standard for security devices and browser plugins will allow any website or cloud application to interface with a broad variety of existing and future FIDO-enabled devices that the user has for online security.
Cloud computing and mobile workforces have resulted in an expanding attack surface and a complex web of identify information. This means that traditional perimeter-based security models are no longer effective. A Zero Trust model of strict access control for every user and device enables businesses to be connected and secure, but an effective identity-focused approach is essential.