Strong Customer Authentication (SCA) – when and why
There is a number of the requirements that financial institutions/payment services must comply with, e.g., PSD 2, AML, even GDPR… From one point of view, there is a strong requirement for knowing your customer (KYC), from the other – personal data must be processed very carefully and in total compliance with rules and regulations. How to achieve that, where to draw the golden line among all the requirements?
We will go through some typical use cases for SCA, e.g., banks, online retail, self-service portals, etc. As well we will take a look into SK ID Solutions case study of building Smart ID – how easy or not so easy it is to be compliant with numerous of requirements, can a start-up easy replicate that? In the end – can SCA be a convenient tool? Slightly we will touch Smart ID onboarding levels and how they affect business cases. Will share other countries` experience with SCA tools as well.