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DSBC’s security system is ready for PSD2 SCA requirements

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. DSBC Financial Europe is playing our part in following this direction and keeping you - our valued customers, safe.

WHAT IS SCA?

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. 

WHAT IS SCA?

(SCA - Knowledge, Possession & Inherence)

DSBC’S UTILIZATION OF SCA?

DSBC Financial Europe has applied PSD2 SCA requirements in securing our mobile application system. You can experience SCA in a variety of ways including:

1. Auto-generated soft token from Twilio app for logging into your account.

  • Step 1: Enter your account name and password.
  • Step 2: Open Twilio application to receive a newly generated soft token.
  • Step 3: Enter your token number.
  • Step 4: Log into your account and enjoy all DSBC services.

(4 steps for a secure login experience at DSBC)

(4 steps for a secure login experience at DSBC)

2. Auto-generated one time password (OTP) via SMS/ email/ call when making a transaction using our mobile application.

  • Step 1: Enter your transaction information.
  • Step 2: Open SMS/email or wait for a phone call to receive an OTP.
  • Step 3: Enter your OTP number and your transaction is all set.

(3 steps for a transferal experience via DSBC mobile app)

(3 steps for a transferal experience via DSBC mobile app)

3. Auto-generated one time password (OTP) via SMS for online transactions like shopping or service booking using DSBC Mastercard.

  • Step 1: Enter your card information.
  • Step 2: Open SMS/email or wait for a phone call to receive an OTP.
  • Step 3: Enter your OTP number and your transaction is all set.

(3 steps for a safe online shopping experience using DSBC Mastercard)

(3 steps for a safe online shopping experience using DSBC 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.

THE REVISED PAYMENT SERVICES DIRECTIVE - PSD2

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. DSBC 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.

DSBC 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.

About us

DSBC 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. DSBC 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.

"DSBC Financial Europe" UAB

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About Us

We are always proud of being an experienced Financial Institution in the global financial payment market.

We provide the best payment platform as well as worldwide money remittance service. "DSBC Financial Europe" UAB can assist you with different payment methods, whether it is a personal account or a business account.