Updated time: Dec 21, 2020, 09:18 (UTC+03:00)
PSD2 SCA requirements were recently implemented for all EU countries based financial institutions to ensure a safer and more secure banking system in all over Europe. DNBC Financial Europe is playing our part in following this direction and keeping you - our valued customers, safe.
SCA - Strong Customer Authentication requires a combination of authentication factors to give user access to a certain action like logging into an account or making a transaction. PDS2 demands at least 2/3 criteria to be used in every action.
The three main criteria are: Knowledge - Possession - Inherence. Knowledge is something that the customer knows like password, PIN or secret questions. Possession is something the customer owns like a phone, token or an app. Inherence is something the customer has since birth like their fingerprint, voice, face, DNA or iris.
(SCA - Knowledge, Possession & Inherence)
DNBC Financial Europe has applied PSD2 SCA requirements in securing our mobile application system. You can experience SCA in a variety of ways including:
(4 steps for a secure login experience at DNBC)
(3 steps for a transferal experience via DNBC mobile app)
(3 steps for a safe online shopping experience using DNBC Mastercard)
These few extra steps will provide you with better protection, making sure that every transaction made in your account is made by you. This also helps protect your valuable information from outside threats, keeping your account safe from fraud and other risks.
PSD2 SCA requirements are officially applied on January 13th of 2018. All European payment services must make amendments to their current security system to support SCA. DNBC has updated ours to follow Directive (EU) 2015/2366 to bring about a better and more secure experience for all our users.
Directive 2007/64/EC on payment service (PSD) has opened more doors for independent financial institutions and open banks to enter the EU market. This resulted in a drastic increase in digital banking. However, according to PSD2, the opportunities that the first version of this directive (PSD) also pose several threats of fraud and due to third party access to this valuable information.
Therefore, on the 12th of January 2016, the EU's second revision of the original Payment Services Directive (PSD2) enters into force. This new direction has made the implementation of SCA mandatory for all banks and financial institutions based in EU countries.
DNBC Financial Europe is constantly working to stay updated with new EU legislations such as PSD2 SCA requirements and continuously working on implementing new features like SCA - strong customer authentication to bring you the best experience when working with us knowing that your account, your information, your money and your business is in good hands.
DNBC Financial Europe holds all rights to the Payment Institution License issued by the Central Bank of Lithuania. We are authorized by the Central Bank of Lithuania and the European Payment Council to conduct Financial Activities specified in our License. DNBC Financial Europe became the trusted choice in terms of SEPA Transfer for individuals and businesses around Europe and over the globe with digital payments and remittance. Customers can use Payment Mastercards for business and personal transactions. Some additional services are international wire transfer, payment Mastercard, foreign exchange service, and merchant account service.
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