Countdown to PSD2: Kill passwords to stay alive
by Olly Brough, VP EMEA at Trusona
Published in SC Magazine UK
Adopt dynamic authentication of customers for each interaction they perform, and do it as seamless and frictionless as possible: use the mobile devices we all carry. Too much is at stake to rely on shared secrets' as safeguards.
Financial institutions constantly make trade-offs between simplifying their customers' experience, improving cyber-security and complying with ever-changing regulations. Letting any one of the above slip could accelerate an organisation's' extinction. Today organisations no longer have to choose between customer experience, cyber-security or regulatory compliance.
As the clock ticks towards the start of a regulatory shakeup for the EU financial services industry, these institutions have a chance to put this right and get their customers back. Customers that have been driven away in droves by a barrage of bulky security guard technologies foisted at long-time customers in the name of improving security and fighting cyber-crime. They never stood a chance when it came to getting the attention of millennials.
Complete the article on SC Magazine and discover the 5 waypoints to killing passwords . . .