EBA guidelines

Change management is always present in the digital financial ecosystem where innovations and regulations require organizations to be constantly updated. Our belief is that layers of security working together will be the winning strategy and one key factor is to turn the user experience into the best possible. If the end users find a better service elsewhere they will eventually stop returning. The EBA and PSDII will harmonize the baseline for online integrity as well as future authentication but will also be a driver for a better user experience.

With the explosive growth of online transactions, and the accompanying increased risk of fraud, the new guidelines stipulate minimal best practices that apply to all payment and e-commerce providers who accept online payment. Of specific relevance to BehavioSec is the requirement for “strong customer authentication” when payers initiate “an electronic payment transaction”.

This White Paper summarizes the regulatory requirements that are about to be set, as well as one method to comply without disturbing the end user. In fact, the technology can improve the user experience and remove friction whilst getting it more secure. The technology is called Behavioral Biometrics and turns the end user behvaior into a security layer.

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