PSD2 Secure Transaction Approval
PSD2
Secure Transaction Approval
Secure your banking transactions
PSD2 Compliance with transaction approval is possible with OpenOTP Security suite. Online banking and most business processes require controls and approvals. It could be for a large financial transaction, a simple work expense reimbursement or procurement approval.
In banking, these have been traditionally managed using One-Time Passwords (OTP) or PIN codes and in business applications with simple username+password authentication.
These mechanisms are now insufficient to meet today’s regulatory requirements, security and usability expectations.
Secure your transactions
Strong Customer Authentication mandates that customer authentication must be based on two or more independent elements from the following categories:
1. Knowledge: Something the user knows (e.g., a password or PIN).
2. Possession: Something the user has (e.g., a mobile device or hardware token).
3. Inherence: Something the user is (e.g., biometric data like fingerprints or facial recognition).
These elements must be independent of each other, ensuring that a compromise of one factor does not jeopardize the others. This requirement enhances security by making unauthorized access significantly more difficult.
RCDevs OpenOTP is designed to help your organization comply with PSD2 requirements, including SCA, while also improving the efficiency and user-friendliness of your business processes. Our solution ensures that your authentication mechanisms are not only compliant but also streamlined and easy for your customers to use, providing a secure and seamless experience in line with the latest regulatory standards.
Dynamic linking integrations
Easy to use API
Key Features
Compliant with PSD2 SCA and Dynamic linking requirements
One solution for multi-factor authentication and secure transaction approval
Online communication using end to end encryption
Offline communication using encrypted QR code when the phone does not have a network connection
Unified IAM Federation
Native IAM Integration
OpenOTP is compatible with local directories such as Active Directory (AD) and LDAP, providing extensive support for on-premise environments. Additionally, it is natively integrated with EntraID, Okta, Google, Ping Identity, One Identity, and many other identity providers, enabling simple integration across diverse IAM systems.
Covered Transactions
Online access to payment accounts
Initiating electronic transactions
Anything done remotely which presents a risk of payment fraud
Provisioning of information through a service provider
Choose the method that best suits you
Authentication Methods
Strong Authentication login technologies supported by OpenOTP Security Suite
SEEING
IS BELIEVING
Whether you are buying a car or a security solution, you always want to test drive it before signing on the dotted line. We know this and you know this.
Contact us for your Free PoC or check it out for yourself.