Transakt Judged PSD2 Compliant for Strong Customer Authentication. These specifications define the enhanced security measures that payment service providers in Europe must put in place by September 2019.
In a 36-page report, SRC concluded that Transakt met all relevant requirements set out in the RTS. It went on to state that, “Transakt makes use of industry wide accepted best practices in its design and use of technology, especially in cryptographically securing and authenticating its credentials and its client-server communication. Therefore Transakt can be considered a state of the art solution.”
In a group statement, SRC’s experts said, “After rigorously examining the latest version of Transakt from Entersekt, it is our independent opinion is that it fulfils all requirements of the EBA RTS that are in scope of the product.”
“With now only 18 months left to comply, Europe’s financial institutions are urgently searching for a PSD2-compliant strong customer authentication solution that impacts consumers’ digital interactions as little as possible,” said Jonathan Knoll, country manager for central Europe at Entersekt. “We now have more independent verification that Entersekt can provide a compliant solution that combines mobile-enabled convenience coupled with superior security.”
SRC’s full report, which contains confidential information, will not be released publicly. A summary is available on Entersekt’s website.
In May 2017, a similar study by the Payments Advisory Group – an Amsterdam-based consultancy – also concluded that Entersekt’s technology complied with all relevant sections of the EBA’s RTS.
Entersekt is an innovator of mobile-first fintech solutions. Financial services providers and other enterprises rely on its patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. For more information, visit www.entersekt.com.