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Open banking requires enhanced security such as Strong Customer Authentication

eW blog article - In general, there are three factors to identify yourself when making an electronic payment: something that you know (such as a PIN code), something that you possess (such as a telephone) and something that you are (such as a physical characteristic). Under PSD2, the Regulatory Technical Standards (RTS) for Strong Customer Authentication (SCA) requires that one’s identity has to be verified by at least two of these three independent options in order to perform a payment. What is SCA and why is it necessary for banks to enhance their security?

More and more Europeans are ready to pay using wearable devices

eW blog article - On the one hand, the spread of smartphones, wearable devices, and the Internet of Things, and on the other hand the development of mobile payment solutions and applications that are increasingly safe and reliable and above all usable: the innovation at the level of apps, mobile devices and mobile payments is impacting on the business models of the retail and banking world precisely because they are changing the habits of consumers who use these devices for business and pleasure.

Host Card Emulation is the real breakthrough for mobile payments

eW blog article - The market for mobile payments has always been fragmented, because banks, telephone manufacturers and telecom providers all offered their own solutions. Mobile payments have therefore never gained traction with the majority. The introduction of Host Card Emulation (HCE) can be seen as a real breakthrough for mobile payments, because it unifies the market and can be deployed on a global scale.

How IoT changes financial services and banks

eW blog article - According to BI Intelligence, in fact, currently there are 7 billion of IoT devices, but this number will rapidly rise to 22.5 billion by 2021. There is no doubt that the technologies related to the Internet of Things will be everywhere: in any company, in any device, in any network and even on any individual. This scenario will create the so-called “banks of things” that take advantage of the customer data collected from any device to offer them different services.